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Insider selling: DALLAS SEMICONDUCTOR - DS -- Following a 35% decline from their highs at $55, shares of Dallas Semiconductor have come back to life, as investor enthusiasm for tech stocks has resurfaced. This company, in particular, generates support on the Street thanks to its product diversity and steady track record. Given this backdrop, it is interesting that company executives are planning to sell shares. From January 13 to January 22, five insiders revealed their intention to sell 215,000 shares at prices ranging from $37-$45 each. This activity comes on the heels of sales by two executives in October/November for 53,200 shares at $48-$52. The lower prices at which these recent sales indications are expected to occur is a further signal that executives may not share analyst convictions of an improving environment for Dallas Semiconductor in '98, especially considering the increasing frequency with which executives at many other companies are choosing to buy shares off their stocks' highs. VP - Computer Products F. A. Scherpenberg's intended 100,000 share disposition would reduce his actionable holdings (common stock plus exercisable options) by more than 20%. Likewise, Director Merylyn Sampels filed to sell 50,000 shares-a potential 50% decrease of Sampels' actionable holdings. Director Richard King's planned sale of 30,000 shares, when combined with his October sale of 30,000 shares, would result in a 30% depletion of his actionable position. Finally, Chairman Charles Prothro sold 23,200 shares in November in his largest open-market sale since '91, while SVP Chao Mai filed to sell 25,000 shares. Dallas Semiconductor develops, manufactures, and markets CMOS integrated circuits and semiconductor-based systems. |
