Data I/O (NASDAQ:DAIO) Downgraded by Zacks Research to Strong Sell

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

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Data I/O in a research report on Wednesday, January 21st. LADENBURG THALM/SH SH began coverage on Data I/O in a research note on Monday, February 2nd. They set a “buy” rating and a $5.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Data I/O currently has an average rating of “Hold” and a consensus price target of $5.11.

Data I/O Stock Up 2.6%

Shares of NASDAQ DAIO traded up $0.07 during trading on Wednesday, reaching $2.75. 2,786 shares of the stock were exchanged, compared to its average volume of 19,067. The business’s 50-day moving average price is $3.01 and its 200 day moving average price is $3.05. Data I/O has a twelve month low of $1.88 and a twelve month high of $3.57. The company has a market capitalization of $25.82 million, a price-to-earnings ratio of -5.09 and a beta of 1.09.

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

Hedge Funds Weigh In On Data I/O

Hedge funds have recently added to or reduced their stakes in the business. DRW Securities LLC bought a new stake in Data I/O during the fourth quarter valued at $37,000. Steward Partners Investment Advisory LLC bought a new position in Data I/O in the second quarter worth about $65,000. NewEdge Advisors LLC lifted its holdings in Data I/O by 45.4% in the second quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock worth $69,000 after acquiring an additional 7,000 shares during the last quarter. Kovack Advisors Inc. boosted its stake in Data I/O by 2.2% in 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 during the period. Finally, Penbrook Management LLC grew its holdings in shares of Data I/O by 1.2% during the fourth quarter. Penbrook Management LLC now owns 356,850 shares of the electronics maker’s stock valued at $1,131,000 after purchasing an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 36.95% of the company’s stock.

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.