MEMC Electronic Materials Inc. (NYSE: WFR) CEO Ahmad R. Chatila bought 68,100 shares of WFR common stock earlier this week for $5.98 per share, according to a SEC filing.
Chatila made a total investment of $407,075. His purchase came a few days after MEMC Electronic Materials reported its financial results for the first quarter of 2013.
For the quarter, the St. Peters, Missouri-based company reported GAAP revenue of $443.6 million. On a non-GAAP basis, the company’s revenue for the quarter was $431.3 million.
MEMC Electronic, which is a developer, manufacturer, and seller of silicon wafers, said that its financial results for the first quarter highlighted the improved execution in the Semiconductor Materials segment and the impact of decision to slow solar project development during 2012.
Chatila said at the time of the release of the quarterly results that he is pleased with WFR’s Semiconductor Materials performance and excited about the opportunities in Solar Energy. Chatila noted that the company grew revenue in its Semiconductor Materials segment, and again generated cash despite a continued industry slowdown. He noted that the company expects to see improving performance through the year.
MEMC Electronic’s solar project pipeline grew to 2.7 GW, while its backlog grew to 925 MW.
At the end of the quarter, the company had cash and cash equivalents of $421.6 million.
MEMC Electronic shares have edged higher in trading today. At last check, the stock was up 3.08% to $6.36 on volume of 2.81 million. Year-to-date, MEMC Electronic shares have gained more than 100%.
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