Key Points
- Red Oak Partners acquired 373,133 Data I/O shares at an average price of $2.68, representing a transaction worth approximately $1 million, according to an SEC filing.
- DAIO opened at $2.44 and trades below its 50-day and 200-day moving averages of $2.81 and $3.00, respectively; its 52-week range is $2.16 to $4.49.
- Data I/O missed its latest quarterly earnings estimate, reporting a loss of $0.17 per share versus the expected $0.10 loss. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $5.11.
Data I/O Corporation (NASDAQ:DAIO - Get Free Report) major shareholder Red Oak Partners, Llc acquired 373,133 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was acquired at an average price of $2.68 per share, with a total value of $999,996.44. Following the completion of the transaction, the insider directly owned 242,934 shares of the company's stock, valued at $651,063.12. This trade represents a -286.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Data I/O Price Performance
DAIO stock opened at $2.44 on Wednesday. The business has a fifty day moving average of $2.81 and a two-hundred day moving average of $3.00. Data I/O Corporation has a 52-week low of $2.16 and a 52-week high of $4.49.
Data I/O (NASDAQ:DAIO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The firm had revenue of $5.15 million during the quarter. Sell-side analysts forecast that Data I/O Corporation will post -0.30 EPS for the current fiscal year.
Institutional Trading of Data I/O
A hedge fund recently raised its position in Data I/O stock. Susquehanna International Group LLP grew its holdings in Data I/O Corporation (NASDAQ:DAIO - Free Report) by 80.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,548 shares of the electronics maker's stock after purchasing an additional 21,711 shares during the quarter. Susquehanna International Group LLP owned 0.52% of Data I/O worth $191,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 36.95% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Data I/O in a research note on Thursday, October 15th. LADENBURG THALM/SH SH raised Data I/O to a "strong-buy" rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $5.11.
Read Our Latest Stock Analysis on DAIO
Data I/O Company Profile
(
Get Free Report)
Data I/O Corporation (NASDAQ:DAIO) develops and supplies automated programming and security-provisioning systems for electronic devices. Its equipment is used to load software, firmware and other data into semiconductor devices such as flash memory, microcontrollers and programmable logic devices during electronics manufacturing.
The company's product portfolio includes automated device-programming systems, programming engines, software and related accessories. Its offerings are designed to support high-volume production, improve programming accuracy and help manufacturers manage device security, including the provisioning of keys and other credentials used in connected and embedded products.
Data I/O serves manufacturers and contract manufacturers in industries including automotive electronics, consumer electronics, industrial equipment, telecommunications and other embedded-technology markets.
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