Utilized Supplies CEO Gary Dickerson Sells Giant Block of Inventory
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inventory has been surging, and two prime executives simply bought practically $22 million of shares of the semiconductor-equipment maker.
Utilized Supplies (ticker: AMAT) inventory surged 41.4% final yr in contrast with a 16.3% rise within the
S&P 500 index.
Shares proceed to outperform, up 55% yr to this point in contrast with the index’s 11.4% acquire.
Evercore analyst C.J. Muse informed Barron’s late final yr that “[u]nder a Biden administration, the massive winners are tools suppliers,” together with Utilized Supplies. We lately famous that Wall Avenue noticed the shares as a option to play the present chip scarcity.
Utilized Supplies President and CEO Gary Dickerson bought 105,184 shares on April 9 for a complete of $14.7 million, a per-share common value of $140. Dickerson nonetheless owns 2.4 million shares, together with unvested efficiency shares and restricted inventory models, or RSUs, in accordance with a kind he filed with the Securities and Trade Fee.
He wasn’t alone. Prabu Raja, a senior vice chairman within the semiconductor merchandise group, bought 50,000 shares on April 8 for $7 million, a mean value of $140.95 every. Raja now owns 426,724 shares, together with unvested efficiency shares and RSUs.
Utilized Supplies didn’t reply to a request to make the 2 executives accessible for remark.
Dickerson and Raja final bought inventory in late 2019. Dickerson bought one million shares in November 2019 for $61.1 million, a per-share common value of $61.11. Raja bought 50,000 shares in December 2019 for $3 million, a mean value of $60.73 every.
Inside Scoop is a daily Barron’s characteristic masking inventory transactions by company executives and board members—so-called insiders—in addition to massive shareholders, politicians, and different distinguished figures. Because of their insider standing, these buyers are required to reveal inventory trades with the Securities and Trade Fee or different regulatory teams.
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