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.
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
-
‘I’ve had my heat pump for a year - have I saved money?’Ruth Emery’s air source heat pump has turned one. Has she saved on her energy bills over the past 12 months, and could the £7,500 grant be under threat in the upcoming Autumn Budget?
-
MoneyWeek news quiz: Which G7 nation has the most generous state pension?The chancellor “set the context” for the Budget on 26 November this week, and November's Premium Bonds winners were confirmed. The state pension also made headlines. How closely have you been following the news?
