Data I/O (NASDAQ:DAIO) Stock: Insider Red Oak Partners, Llc Buys 373,133 Shares

Data I/O Corporation (NASDAQ:DAIO) major shareholder Red Oak Partners, Llc purchased 373,133 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were purchased at an average cost of $2.68 per share, with a total value of $999,996.44. Following the completion of the acquisition, the insider directly owned 242,934 shares of the company’s stock, valued at $651,063.12. This represents a -286.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Data I/O Stock Up 3.3%

Shares of NASDAQ:DAIO opened at $2.52 on Thursday. Data I/O Corporation has a 52 week low of $2.16 and a 52 week high of $4.49. The company has a 50-day moving average price of $2.80 and a 200 day moving average price of $3.00. The company has a market cap of $26.20 million, a P/E ratio of -2.71 and a beta of 1.43.

Data I/O (NASDAQ:DAIO) last released its earnings results on Wednesday, August 12th. The electronics maker reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The business had revenue of $5.15 million for the quarter. Data I/O had a negative return on equity of 66.83% and a negative net margin of 48.73%. Analysts expect that Data I/O Corporation will post -0.30 EPS for the current year.

Hedge Funds Weigh In On Data I/O

An institutional investor recently raised its stake in Data I/O stock. Susquehanna International Group LLP raised its position in Data I/O Corporation (NASDAQ:DAIO) by 80.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 48,548 shares of the electronics maker’s stock after purchasing an additional 21,711 shares during the period. Susquehanna International Group LLP owned about 0.52% of Data I/O worth $191,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 36.95% of the company’s stock.

Analysts Set New Price Targets

DAIO has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH raised Data I/O to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Data I/O in a report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Data I/O has an average rating of “Moderate Buy” and an average price target of $5.11.

About Data I/O

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.