Should You Hold Data I/O Corporation (DAIO)?
Long Cast Advisers, LLC, a small-cap-focused investment manager, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. The cumulative net returns of the fund for Q2 2023 were flat and year-to-date the fund’s return was 11%. The fund has returned a cumulative 166% net of fees, or 14% CAGR since inception in November 2015 through quarter end 2Q23. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Long Cast Advisers highlighted stocks like Data I/O Corporation (NASDAQ:DAIO) in the second quarter 2023 investor letter. Headquartered in Redmond, Washington, Data I/O Corporation (NASDAQ:DAIO) designs, manufactures and distributes programming and security deployment systems and services. On September 25, 2023, Data I/O Corporation (NASDAQ:DAIO) stock closed at $3.96 per share. One-month return of Data I/O Corporation (NASDAQ:DAIO) was -0.75%, and its shares gained 37.02% of their value over the last 52 weeks. Data I/O Corporation (NASDAQ:DAIO) has a market capitalization of $35.715 million.
Long Cast Advisers made the following comment about Data I/O Corporation (NASDAQ:DAIO) in its Q2 2023 investor letter:
Data I/O Corporation (NASDAQ:DAIO). China is an important market so economic headwinds there impact the business. “Supply chain diversification” is also beneficial since new locations require new capital units. I see the pushes and pulls between China softness and ROW as a natural hedge.
As the installed base grows, so do recurring revenues (adapter and software sales) and the still developing opportunity to upsell SentriX, which still has unfortunately small adoption. I expect the new CFO who replaces a retiring “lifer” offers fresh perspective and insights."
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Data I/O Corporation (NASDAQ:DAIO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held Data I/O Corporation (NASDAQ:DAIO) at the end of second quarter which was 4 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
