Lake Street Capital Initiates Coverage on Data I/O Corporation (DAIO)

Stock analysts at Lake Street Capital began coverage on shares of Data I/O Corporation (NASDAQ:DAIO) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $13.00 price target on the electronics maker’s stock. Lake Street Capital’s price target would suggest a potential upside of 4.00% from the company’s current price.

Data I/O Corporation (NASDAQ DAIO) opened at $12.50 on Monday. Data I/O Corporation has a 1-year low of $3.89 and a 1-year high of $13.48. The company has a market cap of $101.12, a price-to-earnings ratio of 22.31 and a beta of 1.36.

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In other news, Director Mark J. Gallenberger sold 13,036 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $11.50, for a total value of $149,914.00. Following the sale, the director now owns 34,232 shares in the company, valued at approximately $393,668. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joel S. Hatlen sold 100,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $12.74, for a total transaction of $1,274,000.00. Following the completion of the sale, the vice president now owns 157,257 shares in the company, valued at approximately $2,003,454.18. The disclosure for this sale can be found here. Insiders sold a total of 169,620 shares of company stock worth $1,966,628 in the last quarter. 8.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Data I/O Corporation by 281.7% in the 3rd quarter. Wells Fargo & Company MN now owns 10,782 shares of the electronics maker’s stock valued at $107,000 after purchasing an additional 7,957 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Data I/O Corporation during the 3rd quarter valued at about $137,000. Essex Investment Management Co. LLC grew its position in shares of Data I/O Corporation by 22.6% during the 2nd quarter. Essex Investment Management Co. LLC now owns 16,561 shares of the electronics maker’s stock valued at $132,000 after buying an additional 3,055 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Data I/O Corporation by 77.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 20,022 shares of the electronics maker’s stock valued at $159,000 after buying an additional 8,722 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Data I/O Corporation by 38.3% during the 2nd quarter. Northern Trust Corp now owns 27,580 shares of the electronics maker’s stock valued at $219,000 after buying an additional 7,634 shares during the last quarter. Institutional investors and hedge funds own 24.69% of the company’s stock.

About Data I/O Corporation

Data I/O Corporation provides programming and associated intellectual property management solutions. The Company’s solutions are used in the manufacturing of flash, microcontrollers and flash-memory-based intelligent devices. It designs, manufactures and sells programming systems used by designers and manufacturers of electronic products.

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