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.
The Trade: ON Semiconductor Corporation ON Director Gregory Waters acquired a total of 17000 shares at an average price of $45.26. The insider spent $769,420.00 to acquire those shares.
What’s Happening: onsemi recently announced it will acquire GT Advanced Technologies for $415 million in cash.
What ON Semiconductor Does: ON Semiconductor is a leading supplier of power and analog semiconductors, as well as sensors.
The Trade: Kodiak Sciences Inc. KOD Director Baker Bros Advisors Lp, Lp, Baker Bros Advisors GP Llc, Baker Brothers Life Sciences Lp, Felix Baker, Julian Baker acquired a total of 57501 shares at an average price of $93.31. To acquire these shares, it cost $5,365,227.06.
What’s Happening: Kodiak Sciences, last month, reported a wider quarterly loss.
What Kodiak Sciences Does: Kodiak Sciences Inc is a clinical-stage company. It is engaged in developing innovative therapeutics to treat the high prevalence of ophthalmic diseases.
The Trade: Sensient Technologies Corporation SXT 10% owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd bought a total of 27427 shares at an average price of $88.16. The insider spent $2,417,964.32 to acquire those shares.
What’s Happening: The company’s shares climbed 13% over the previous six months.
What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
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