Remember to always keep track of insider buying.
If insiders are willing to put their money where their mouths are, there’s reason for it.
In fact, here’s what insiders have been buying most recently.
Advanced Micro Devices (SYM: AMD)
Oversold, Advanced Micro Devices (AMD) is just starting to pivot higher. Helping, Phil Guido, AMD’s executive vice president and chief commercial officer, paid $500,000 on Feb. 7 for 4,645 shares, an average price of $107.56 each. This was the first insider stock buying since November 2012 when CEO Lisa Su paid $98,400 for 48,000 shares at an average price of $2.05 a share.
Loop Capital just initiated a buy rating on AMD with a $175 price target. The firm says AMD has “dominant revenue exposure to mature end markets.”
Helping, AMD is exposed to a multi-billion-dollar addressable market for data center AI chips. In fact, according to company Chair and CEO Lisa Su, that addressable market for AI chips will reach $500 billion by 2028, which is up from her prior estimate for $400 billion by the time 2027 rolls around.
Amcor (SYM: AMCR)
Oversold shares of global packaging stock Amcor are also starting to pivot higher. Helping, CEO Peter Konieczny bought 100,000 shares for $1 million just days ago. The stock was also upgraded to a buy rating at Truist, citing AMCR’s acquisition of Berry Global as a key catalyst.
“The company has multiple avenues at its disposal to drive more pronounced volume growth, EBITDA, and FCF post-acquisition of Berry Global, which we view as a transformational transaction,” Michael Roxland, analyst at Truist, said in a January 6 report. “At a minimum, it affords Amcor scale in key end markets where it had smaller penetration including foodservice and beauty and personal care.”
Occidental Petroleum (SYM: OXY)
After OXY pulled back about 30% from its high, the firm picked up another 763,017 shares for just over $35.7 million. That follows the firm’s 8.9 million share purchase in December on another pullback. Oversold, OXY is also starting to pivot higher from double bottom support. It’s also starting to push higher from over-extensions on RSI, MACD and Williams’ %R. From. Its last traded price of $48.61, we’d like to see OXY initially retest $53.20.
Additional Reading – We recommended Palantir in 2021, now we’re recommending this…
This one investment could soon impact $85 trillion in economic activity.
That’s 13-times bigger than oil…
6-times bigger than the digital economy…
7-times bigger than healthcare.
And ONE firm – currently trading for only $20 a share – holds all the cards in this sector.
