A beneficial owner just bought 30,961,300 shares, or about $82.43 million worth of stock, at $2.63 to $2.65 per share. From a technical perspective, SIRI is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strongly for the last six months, with shares soaring from a low of $1.80 to its recent high of $2.97 a share. During that uptrend, shares of SIRI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed SIRI within range of triggering a major breakout trade. If you're bullish on SIRI, then I would look for long-biased trades once this stock manages to break out above some near-term overhead resistance levels at $2.84 to $2.97 a share with high volume. Look for a sustained move or close above that level with volume that tracks near or above its three-month average action of 71,346,100 shares. If that breakout triggers soon, then some possible upside targets are $4 to $6 a share. MEMC Electronic Materials Another name in the semiconductor complex that insiders are heavily active in is MEMC Electronic Materials ( WFR). This company is engaged in the manufacture and sale of wafers and related products to the semiconductor and solar industries. Insiders are buying this stock into some notable weakness, since shares are off by over 35% so far in 2012. MEMC Electronic Materials has a market cap of $575 million and an enterprise value $2.27 billion. This stock trades at a reasonable valuation, with a forward price-to-earnings of 11.86. Its estimated growth rate for this year is -25%, and for next year it's pegged at 40%. This is not a cash-rich company, since the total cash position on its balance sheet is $609.80 million and its total debt is $2.32 billion. A director just bought 3,238,000 shares, or about $7.35 million worth of stock, at $2.25 to $2.27 per share. From a technical perspective, WFR is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been trending sideways for the last two months, with shares moving between $2.15 on the downside and $2.69 on the upside. A high-volume move outside of that sideways trading pattern will likely set up the next major trend for shares of WFR.