Glenn Collinson, a non-executive director at Wolfson Microelectronics, spent £86,000 on shares in the chip designer.
He took 40,000 at 215p a time, having previously had none.
Collinson co-founded the Bluetooth chip specialist Cambridge Silicon Radio (CSR, now a listed company) in 1998. Prior to that he worked at the US technology company best-known in the UK for its calculators, Texas Instruments.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wolfson Microelectronics has been in a slump since the middle of February but the share price got a fillip from the chip designer's first quarter results.
Revenue in the first three months of 2011 rose 44% to $41.1m from $28.5m a year earlier, and a tad ahead of market consensus of $41.0m. Sales more than doubled year-on-year in mobile phones, particularly smartphones, gaming, eBooks and PC/tablets, the company said.
The underlying operating loss narrowed to $0.9m from a loss of $4.9m. The market had been expecting an operating profit of $0.4m. With exceptional items such as amortisation of intangible assets included, the operating loss contracted to $3.4m from $7.1m.
Top Director Buys
Wolfson Microelectronics (WLF) Director name: Mr Glenn CollinsonAmount purchased: 40,000 @ 215.00p Value: £86,000
UK Coal (UKC) Director name: Mr Keith HellerAmount purchased: 170,128 @ 40.00p Value: £68,051
-
What has Labour said about stamp duty?Critics say stamp duty is clogging up the property market, but the chancellor is unlikely to address it in her Budget
-
Ofcom fibre broadband reforms to force providers to be ‘clearer’ about internet connection typesNews Providers currently use ‘fibre broadband’ as a catch-all term. But Ofcom wants them to give consumers greater clarity on whether they will get full-fibre or a partial connection.
