Boston, MA 03/11/2014 (wallstreetpr) – Silicon Image, Inc. (NASDAQ:SIMG) is witnessing exciting developments around it. Given that investors are always on the lookout for fresh news that may inform their investment decisions, it becomes important to peep into what insiders at Silicon Image have been up to of late.
It is generally considered that insiders have more insightful knowledge of their company and their decisions must thus be well-informed, much like many investors around the world mimic hedge fund managers because of their widespread understanding of the markets.
Insider trading activity
Wall Street says that there are many reasons for insiders to sell, but just one obvious reason to buy – profiting from the investment. In about two weeks there have been two insiders buying at Silicon Image, Inc. (NASDAQ:SIMG). Chief executive Camillo Martino acquired about 5,000 shares of Silicon Image, Inc. (NASDAQ:SIMG) last Friday on the open market trading. The shares were bought at an average price of $6.62 a share, reflecting total investment of roughly $33,100. Mr. Martino is just the latest high ranking company official to put his money out of pocket to buy shares of his company.
Earlier than that, a director of the company Peter Hanelt bought 6,425 shares of Silicon Image, Inc. (NASDAQ:SIMG) on open market trading. The shares were acquired for $5.84 each, thus leading to total investment of $37,522. The latest purchase by Mr. Hanelt puts his direct stockholding in the company at about 122,711.
Share up since insider dealings
Shares of Silicon Image, Inc. (NASDAQ:SIMG) have been trading up since the first of the latest two insider purchases. In the last session, the shares rose 5.15 percent o $6.94, on a day that was characterized with heavy volume trading and establishment of a new 12-month high at $6.95.
Bottom line
Looking at the trend of the stock, it seems with the growing confidence fueled by insider purchases, getting shares of Silicon Image, Inc. (NASDAQ:SIMG) at the current price could be a good deal before they become expensive – because they seems to be headed there.
