Data I/O (NASDAQ:DAIO) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Data I/O Corporation (NASDAQ:DAIO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.07 and traded as high as $3.14. Data I/O shares last traded at $2.96, with a volume of 40,714 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DAIO shares. Zacks Research upgraded Data I/O from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Data I/O in a research note on Friday, July 17th. Finally, LADENBURG THALM/SH SH upgraded shares of Data I/O to a “strong-buy” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.11.

Data I/O Price Performance

The business has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $3.07. The company has a market cap of $28.17 million, a PE ratio of -3.57 and a beta of 1.30.

Data I/O (NASDAQ:DAIO) last announced its quarterly earnings results on Friday, May 15th. The electronics maker reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.18). The company had revenue of $3.25 million during the quarter, compared to analysts’ expectations of $4.00 million. Data I/O had a negative net margin of 41.85% and a negative return on equity of 54.33%. On average, equities research analysts predict that Data I/O Corporation will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Data I/O

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAIO. Kovack Advisors Inc. raised its holdings 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 worth $871,000 after purchasing an additional 5,675 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Data I/O by 24.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 43,472 shares of the electronics maker’s stock valued at $138,000 after buying an additional 8,555 shares in the last quarter. NewEdge Advisors LLC grew its position 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 worth $69,000 after buying an additional 7,000 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Data I/O in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors 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.