In the semiconductor complex, insiders are snapping up shares of TriQuint Semiconductor ( TQNT), a supplier of modules, components and foundry services for communications applications. This is yet another name that insiders are buying after a big decline; it's off by around 55% so far in 2011. TriQuint Semiconductor has a market cap of $826.15 million and an enterprise value of $653.99 million. This stock trades at a reasonable valuation; its trailing price-to-earnings is 9.94, and its forward price-to-earnings is 13.81. This company's estimated growth rate for this year is -39.8%, and for next year it's pegged at -28%. This is a cash-rich company, with a total cash position on its balance sheet of $147.22 million and total debt of zero. A director just bought 100,000 shares, or $431,200 worth of stock, at $4.31 per share. This same director also recently bought 14,333 shares, or $68,211 worth of stock, at $4.76 per share. From a technical standpoint, TQNT is currently trading below both its 50-day and 200-day moving average, which is bearish. This stock was hit hard by the sellers recently from its October high of $7.76 to a recent low of $3.97 a share. Since that low, the stock has rebounded sharply to its current price of near $5 a share. Market players should now watch TQNT for a breakout trade if a few overhead resistance levels can be cleared with volume. If you're bullish on TQNT, you should look to be a buyer on any weakness and anticipate a breakout above $4.92 and $5.42 (its 50-day) a share on high volume. Look for volume on any sustained move and close above those levels that hits close to or above its three-month average action of 6,744,620 shares. I would simply use a mental stop at around $4.50 in case the stock isn't ready to breakout just yet. To see more stocks with notable insider buying, including KKR ( KKR), Assured Guaranty ( AGO) and Shutterfly ( SFLY), check out the Stocks With Big Insider Buying portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.