Data I/O (NASDAQ:DAIO) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Data I/O (NASDAQ:DAIO) from a hold rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports.

DAIO has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Data I/O in a report on Wednesday, January 21st. LADENBURG THALM/SH SH began coverage on shares of Data I/O in a research note on Monday, February 2nd. They issued a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.11.

Data I/O Stock Performance

NASDAQ:DAIO opened at $2.68 on Wednesday. The business’s fifty day moving average price is $2.99 and its 200 day moving average price is $3.05. The firm has a market capitalization of $25.17 million, a price-to-earnings ratio of -4.96 and a beta of 1.09. Data I/O has a 1-year low of $1.88 and a 1-year high of $3.57.

Data I/O (NASDAQ:DAIO) last announced its quarterly earnings data on Friday, February 27th. The electronics maker reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.18). Data I/O had a negative return on equity of 29.44% and a negative net margin of 23.19%.The business had revenue of $3.98 million for the quarter, compared to analyst estimates of $5.41 million.

Institutional Investors Weigh In On Data I/O

A number of hedge funds and other institutional investors have recently made changes to their positions in DAIO. Steward Partners Investment Advisory LLC purchased a new stake in shares of Data I/O during the 2nd quarter worth about $65,000. NewEdge Advisors LLC grew its stake in shares of Data I/O by 45.4% in the 2nd quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock valued at $69,000 after buying an additional 7,000 shares in the last quarter. Penbrook Management LLC increased its holdings in Data I/O by 1.2% in the fourth quarter. Penbrook Management LLC now owns 356,850 shares of the electronics maker’s stock worth $1,131,000 after buying an additional 4,100 shares during the last quarter. Kovack Advisors Inc. raised its position in Data I/O by 2.2% during the fourth quarter. Kovack Advisors Inc. now owns 268,906 shares of the electronics maker’s stock valued at $871,000 after acquiring an additional 5,675 shares in the last quarter. Finally, DRW Securities LLC bought a new position in Data I/O during the fourth quarter valued at approximately $37,000. 36.95% of the stock is owned by hedge funds and other institutional investors.

About Data I/O

Data I/O Corporation is a provider of device programming solutions for semiconductor and microcontroller manufacturers, test houses, contract manufacturers and electronics design engineers. The company’s product portfolio includes universal and site-specific programmers, automated programming systems and software tools that enable high-volume production, development and field programming of non-volatile memories and microcontrollers. Data I/O’s solutions are designed to support a wide range of programmable devices, including Flash, EPROM, EEPROM, PLDs, FPGAs and automotive-grade microcontrollers.

The company’s flagship technologies include its high-speed FlashCORE III programming engines and the SB-OS-A automated handling system, which together streamline production workflows by providing scalable, multi-site programming capabilities.