Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.
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.
CONMED
- The Trade: CONMED Corporation (NYSE:CNMD) Chief Operating Officer Pat Beyer acquired a total of 3,000 shares at an average price of $68.30. To acquire these shares, it cost around $204,900.
- What's Happening: On April 24, Conmed reported better-than-expected first-quarter financial results.
- What CONMED Does: Conmed Corp is a Utica, New York-based medical equipment company that focuses on sports medicine procedures and general surgeries.
Skyworks Solutions
- The Trade: Skyworks Solutions, Inc. (NASDAQ:SWKS) Director, Chairman, CEO and President Liam Griffin acquired a total of 11,142 shares at an average price of $90.00. To acquire these shares, it cost around $1 million.
- What's Happening: On April 30, Skyworks Solutions reported quarterly earnings of $1.55 per share which beat the analyst consensus estimate of $1.52 by 1.97%.
- What Skyworks Solutions Does: Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity.
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Enphase Energy
- The Trade: Enphase Energy, Inc. (NASDAQ:ENPH) EVP, CFO Mandy Yang bought a total of 4,000 shares at an average price of $104.24. To acquire these shares, it cost around $416,972.
- What's Happening: On April 23, Enphase Energy reported worse-than-expected first-quarter financial results and issued second-quarter revenue guidance below estimates.
- What Enphase Energy Does: Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform.
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