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5 Stocks Insiders Are Snapping Up

Zygo

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One more stock to consider with some large insider buying is Zygo (ZIGO), which designs, develops and manufactures measurement solutions to improve its customers' manufacturing yields, as well as top-tier optical sub-systems and components for original equipment manufacturers and end-user applications. Insiders are buying this stock into modest strength, since shares are higher by 6.2% in the last three months.

Zygo has a market cap of $297 million and an enterprise value of $186 million. This stock trades at a cheap valuation, with a trailing price-to-earnings of 8.85. This is a cash-rich company, since the total cash position on its balance sheet is $77.35 million and its total debt is zero.

A beneficial owner just bought 250,000 shares, or $3.65 million worth of stock, at $14.60 per share.

From a technical perspective, ZIGO is currently trending above its 50-day moving average and just below its 200-day moving average, which is neutral trendwise. This stock recently spiked back above its 50-day at $15.55 a share with volume and it's now quickly moving within range of triggering a major breakout trade.

If you're bullish on ZIGO, then look for long-biased as long as it's trending above its 50-day at $15.55 and then once it breaks out above some near-term overhead resistance levels at $16.19 to its 200-day at $16.85 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 38,498 shares. If that breakout hits soon, then ZIGO will set up to re-test or possibly take out its next major overhead resistance levels at $19 to $20 a share.

To see more stocks with notable insider buying, check out the Stocks With Big Insider Buying portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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