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MEMC Electronic CEO Buys 68,100 Shares (WFR)

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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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.