Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Shutterfly (NASDAQ:SFLY)'s Director, James White, made a $966,136 purchase of SFLY, buying 35,000 shares at a cost of $27.60 each. White was up about 6.3% on the purchase at the high point of today's trading session, with SFLY trading as high as $29.33 at last check today. In the past year, 1 other insider bought SFLY, purchasing $382,500 shares at a cost of $38.25 a piece.
And also on Wednesday, Director Steven Sharp bought $431,200 worth of TriQuint Semiconductor (NASDAQ:TQNT), buying 100,000 shares at a cost of $4.31 each. This purchase marks the first one filed by Sharp in the past twelve months. In the past twelve months, 2 other insiders purchased TQNT, in 5 transactions, for a total cost of $179,656 at an average of $4.73 per share. TriQuint Semiconductor, Inc. is trading up about 6.3% on the day Friday.
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