When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

American Eagle

The Trade: American Eagle Outfitters, Inc. (NYSE:AEO) EVP and Chief Commercial Officer Andrew McLean acquired a total of 76404 shares . The insider also sold a total of 60124 shares at an average price of $34.46

What’s Happening: American Eagle is expected to report quarterly results on September 2, 2021. The company’s shares have jumped over 77% since the start of the year.

What American Eagle Does: American Eagle Outfitters Inc is an apparel and accessory retailer with company stores throughout North America, China, Hong Kong, and the United Kingdom.

Lattice Semiconductor

The Trade: Lattice Semiconductor Corporation (NASDAQ:LSCC) President and CEO James R Anderson acquired a total of 64676 shares . The insider also disposed a total of 34053 shares at an average price of $59.90.

What’s Happening: The company, last week, reported upbeat results for its second quarter.

What Lattice Semiconductor Does: Lattice Semiconductor Corp is a developer of semiconductor technology that it distributes through products, solutions, and licenses.

ConocoPhillips

The Trade: ConocoPhillips (NYSE:COP) Director Walker bought a total of 22500 shares at an average price of $55.50. The insider spent $1,248,739.20 to acquire those shares.

What’s Happening: ConocoPhillips, last week, reported upbeat earnings for its second quarter.

What ConocoPhillips Does: ConocoPhillips, which is headquartered in Houston, Texas, explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide.

Occidental Petroleum

The Trade: Occidental Petroleum Corporation (NYSE:OXY) Director Stephen I Chazen acquired a total of 20000 shares at an average price of $25.76. To acquire these shares, it cost $515,200.00.

What’s Happening: Occidental Petroleum, last week, reported a profit for its second quarter.

What Occidental Petroleum Does: Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.