"Semiconductor insiders bought $3.6 million worth of stock in August"
Big WHOOPIE DOO!
What a deceptive, uninformed piece of journalism that was...
Here are the SEC insider filings for SOX members in Aug 2002
XLNX:
2002-08-27 SCHERER, PETER 1,000 Planned Sale
(Estimated proceeds of $17,920)
2002-08-13 CHESTER, SHELDON 350 Planned Sale
(Estimated proceeds of $6,408)
2002-08-10 FAHY, WALTER B. 311 Planned Sale
(Estimated proceeds of $7,500)
2002-08-09 CLAASSEN, SAM L. 1,000 Planned Sale
(Estimated proceeds of $17,694)
2002-08-01 ANDBERG, ERNEST&MARCIA JT TN 1,300 Planned Sale
(Estimated proceeds of $26,000)
2002-08-01 RICHTER, WAYNE 5,346 Planned Sale
(Estimated proceeds of $106,920)
LLTC:
2002-08-14 QUARLES, DAVID 10,000 Planned Sale
(Estimated proceeds of $283,889)
2002-08-01 MCCARTHY, LEO T. 1,000 Planned Sale
(Estimated proceeds of $25,574)
2002-08-01 MCCARTHY, LEO T.
Director 1,000 Option Exercise at $8.531 per share.
(Cost of $8,531)
2002-08-01 MCCARTHY, LEO T.
Director 1,000 Sale at $26.02 per share.
(Proceeds of $26,020)
INTC:
2002-08-01 SODHANI, ARVIND 107,226 Planned Sale
(Estimated proceeds of $1,850,000)
MU:
2002-08-08 GOVE, BOB
Officer 908 Statement of Ownership
2002-08-05 BEDARD, KIPP A.
Officer 28,000 Option Exercise at $14.825 per share.
(Cost of $415,100)
ALTR:
2002-08-01 DOUGLAS, KATHLEEN 6,928 Planned Sale
(Estimated proceeds of $80,434)
AMD:
2002-08-02 RUIZ, HECTOR DE J.
President 12,000 Purchase at $7.39 per share.
(Cost of $88,680)
2002-08-01 RUIZ, HECTOR DE J.
President 12,000 Purchase at $7.88 - $7.9 per share.
(Cost of about $95,000)
There was no insider activity in August for the SOX members not listed.
So the dollar amount "worth of stock" reported in that article is not how much the insiders paid. As you can see from the above filings, the buys were all exercise of options substantially below market price except for $184,000 worth of purchases from the AMD president who has a salary of $6.5M.
On the other hand, there were over $2.4M of dollars of planned sales reported.
So was that article bullish or bullshit <g> ? |
