Jul 1, 2016

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Insider Selling at Three Companies: Skyworks Solutions Inc (NASDAQ:SWKS), FNF Group of Fidelity National Financial, Inc. (NYSE:FNF), Computer Sciences Corporation (NYSE:CSC)

Insider Selling at Three Companies: Skyworks Solutions Inc (NASDAQ:SWKS), FNF Group of Fidelity National Financial, Inc. (NYSE:FNF), Computer Sciences Corporation (NYSE:CSC)

Insider trading is the trading of a public company’s stock or other securities (such as bonds or stock options) by individuals with access to nonpublic information about the company. In various countries, trading based on insider information is illegal. This is because it is seen as unfair to other investors who do not have access to the information as the investor with insider information could potentially make far larger profits that a typical investor could not make.

The authors of one study claim that illegal insider trading raises the cost of capital for securities issuers, thus decreasing overall economic growth. However, some economists have argued that insider trading should be allowed and could, in fact, benefit markets.

Trading by specific insiders, such as employees, is commonly permitted as long as it does not rely on material information not in the public domain. However, most jurisdictions require such trading be reported so that these can be monitored. In the United States and several other jurisdictions, trading conducted by corporate officers, key employees, directors, or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade.

Skyworks Solutions Inc (NASDAQ:SWKS) saw an insider sell on June 28, 2016 that may make shareholders worried. ALDRICH DAVID J, Executive Chairman, sold 15,000 shares at $60.21 a piece. The total sale came to $903,180. Its shares currently owned by company management are 0.20% while institutional investors own about 82.80%. The 6-month change recorded in total insider ownership was -45.67%. On the other side, -0.72% change in total institutional ownership has been reported for the 3-month period.

Moving on to the second insider trade which involved QUIRK RAYMOND R, a Chief Executive Officer at FNF Group of Fidelity National Financial, Inc. (NYSE:FNF) sold 161,199 shares at $35.06 per share to trim the total holding at 341,479 shares. Its shares currently owned by company management are 2.30% while institutional investors own about 85.70%. The 6-month change recorded in total insider ownership was -23.00%. On the other side, 0.32% change in total institutional ownership has been reported for the 3-month period.

Computer Sciences Corporation (NYSE:CSC) also received some insider trading action as LAWRIE JOHN M, who the company’s Chairman, President and CEO is sold some 1,100 shares at a price of $47.47 per share to the holding that now comprises of 392,729 shares. Its shares currently owned by company management are 0.40% while institutional investors own about 98.40%. The 6-month change recorded in total insider ownership was -60.81%. On the other side, 0.48% change in total institutional ownership has been reported for the 3-month period.

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