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

Data I/O (NASDAQ:DAIO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

DAIO has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Data I/O in a report on Wednesday, January 21st. LADENBURG THALM/SH SH started coverage on shares of Data I/O in a research report on Monday, February 2nd. They issued a “buy” rating and a $5.00 price target 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.11.

Data I/O Trading Up 2.6%

Shares of DAIO traded up $0.07 during trading hours on Wednesday, reaching $2.75. The stock had a trading volume of 2,800 shares, compared to its average volume of 19,067. Data I/O has a 12 month low of $1.88 and a 12 month high of $3.57. The firm has a 50-day simple moving average of $3.01 and a 200 day simple moving average of $3.05. 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 announced its quarterly earnings results 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 net margin of 23.19% and a negative return on equity of 29.44%. The business had revenue of $3.98 million for the quarter, compared to the consensus estimate of $5.41 million.

Institutional Trading of Data I/O

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

Data I/O Company Profile

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.