Grab This Bargain Even Cheaper Than Director Aoki Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 10, AVX Corp.'s Director, Shoichi Aoki, invested $12,790.00 into 1,000 shares of AVX, for a cost per share of $12.79. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Friday, bargain hunters could buy shares of AVX Corp. ( AVX) and achieve a cost basis even cheaper than Aoki, with shares changing hands as low as $12.77 per share. It should be noted that Aoki has collected $0.10/share in dividends since the time of their purchase, so they are currently up 0.6% on their purchase from a total return basis. AVX Corp. shares are currently trading down about 0.5% on the day. The chart below shows the one year performance of AVX shares, versus its 200 day moving average:

AVX Corp. Chart

Looking at the chart above, AVX's low point in its 52 week range is $11.09 per share, with $14.19 as the 52 week high point — that compares with a last trade of $12.78. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

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