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Any time insiders put their money where their mouths are, pay close attention.
After all, it’s the insiders that know their company the best.
However, don’t buy a stock just because an insider is buying. Do your own due diligence on the stock, both technically and fundamentally.
In fact, here are a few you may want to look into.
Match Group (SYM: MTCH)
CEO Spencer Rascoff recently bought $2 million for 70,885 shares.
He paid an average price of $27.89 a share for 53,398 of them and an average price of $28.54 for 17,487. Rascoff already bought $2 million worth of shares at an average price of $34.41 on Feb. 6. He now owns 137,478 shares of Match.
And, as quoted by Barron’s, “100 days in as CEO and more confident than ever in our team and Match Group’s future. Friday, I purchased $2 million of stock of MTCH, in addition to the $2 million I bought last quarter. Energized by the responsibility and privilege of defining the future of connections for this category.”
Even better, the company declared a quarterly dividend of 19 cents per share, which is payable on July 18 to shareholders of record as of July 3.
Nike (SYM: NKE)
In early April, director Robert Swan Holmes picked up $502,756 shares of the beaten-down athletic footwear stock at an average price of $58.46 a share.
Plus, Jefferies upgraded Nike to a buy rating with a $115 price target just a few weeks ago.
The firm says Nike’s stock price is near a “valuation trough.” They added, “As Nike turns back on its innovation engine, channel inventories will be rebalanced and wholesale distro will be increased setting the stage for accelerating unit volumes and healthier full-price sell through driving stronger revenue growth and rising margins against a backdrop of reduced Street expectations (that are now way too low).”
Advanced Micro Devices (SYM: AMD)
AMD Executive Vice President and Chief Commercial Officer, Philip Guido bought 8,800 shares of the stock for just under $1 million on May 20.
With AMD, we have to remember the company 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.
“This is roughly equivalent to the annual sales for the entire semiconductor industry in 2023. Su is optimistic about the long-term market size potential for AI chips, and believes that AI demand has exceeded the company’s expectations over the past year,” as noted by Barron’s.
Also, the company’s latest generation of AI chips, the MI300, is its fastest ramping product ever. Lisa Su added that AMD’s MI300X chip—which rivals dominant AI chipmaker Nvidia’s H100 is “the most advanced AI accelerator in the industry,” as noted by Time.com.
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