$4M Bet On Enphase Energy? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders at Enphase Energy, Semtech Corporation, and Unifi, Inc. have recently made notable purchases of their companies' stocks. Enphase Energy's director acquired 32,600 shares at an average price of $122.76, costing around $4 million. Semtech Corporation's director acquired 20,000 shares at an average price of $24.83, costing around $496,520. Unifi, Inc.'s director bought 7,800 shares at an average price of $7.01, costing around $54,690.
September 19, 2023 | 10:47 am
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NEGATIVE IMPACT
Unifi, Inc.'s director bought 7,800 shares, costing around $54,690. The company recently posted a wider-than-expected quarterly loss.
Despite the insider purchase, the company's recent wider-than-expected quarterly loss could negatively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Semtech Corporation's director purchased 20,000 shares, costing around $496,520. The company reported better-than-expected Q2 results but issued weak Q3 guidance.
The insider purchase could indicate confidence in the company's long-term prospects despite the weak Q3 guidance. This might not have a significant impact on the short-term stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Enphase Energy's director purchased 32,600 shares, costing around $4 million. The company recently expanded solar and battery storage deployments in Australia.
The insider purchase signals confidence in the company's prospects, especially given the recent expansion in Australia. This could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100