Paul,
Insiders have far less than when they started. It's hard to calculate accurately. Market guide shows them at 24% (which I'm not sure is accurate) last I checked but if you look at their transactions you will see that they are immense. Furthermore a good deal are exercises at zero cost. This is hemmoraging the value of the company.
Average Shares (basic). This shows outstanding shares
since 1997 - 2001 from barrons (in thousands).
116,341.00
169,716.00
201,667.00
220,101.00
254,021.00
The Wall Street Journal shows Henry Nicholas as holding
1,160,000 as of 5/29/02. The next largest insider shareholder is Vahid Manian at 83,620 as of 6/07/02.
Now go to Yahoo
biz.yahoo.com
Look at Nicholas. It shows 0 shares. Now look at all the transactions. Now Yahoo's number may be wrong, but maybe not. A lot of Nicholas' transactions show a zero acquisition cost. So he may may still have unexercised zero cost stock. The net effect though is dilution.
Furthermore I don't see any open market purchases.
Now I don't object to insiders getting rich, I think they should but I also think it has been an excellent indicator of future price.
If you have a more accurate site than the Wallstreet Journal or Yahoo please post it.
In any event Paul I'm not trying to change your opinion. Just alert you to some things that don't seem to bode well.
And as I said BRCM could go down here or later this fall. It's had an awefully nice move. We'll just have to see. |
