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Thorsen Steven L. Jr: insider trades

Officer at Micron Technology. No open-market purchases and 12 sales not made under a pre-set plan, reported from April 29, 2013 to July 24, 2018.

What happened after Thorsen Steven L. Jr’s sales?

After their sales, the shares moved +24.3% against the index over 12 months on average (a negative figure means selling was the right call); 50% trailed it.

With 296 insiders tested, some will look skilled or unskilled by chance alone: when we replaced each insider’s stocks with random companies bought on the same days, about 5.7 cleared the bar ahead and 23.3 behind. One record on its own proves little.

Trade by trade

MeasuredTrades countedAverage vs S&P 500MedianWent the right wayYearst-statisticp-valueEvidence
Purchases, 3 months after the report 0 — — — — — — Not enough years
Purchases, 6 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the trade 0 — — — — — — Not enough years
Sales, 3 months after the report 12 +7.2% +6.4% 33% 5 1.54 0.20 No reliable evidence
Sales, 12 months after the report 12 +24.3% +5.5% 50% 5 1.35 0.25 No reliable evidence
Sales, 12 months after the trade 12 +22.3% +5.2% 50% 5 1.19 0.30 No reliable evidence

“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates, from the close on the first trading day after the report, or from the close on the trade date. Only windows that have finished are counted. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic uses one average per year of reports, because one person’s trades bunch into the same stock and weeks, and needs trades in at least four different years; the p-value comes from the t distribution with that number of years (with four years, a t of 2 has p = 0.14). “Some evidence” means p under 5%, “strong evidence” p under 1% over at least six years.

Companies traded

CompanyTitle on the latest filingPurchasesSalesFirst reportLatest report
Micron Technology MU SVP, WORLDWIDE SALES012April 29, 2013July 24, 2018

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

ReportedTradedCompanyTradeValue3 months after report12 months after report12 months after trade
July 24, 2018July 20, 2018 MU Sale $2,203,600 −24.3%−19.5%−24.1%
May 10, 2018May 8, 2018 MU Sale $1,359,788 −5.1%−31.6%−28.6%
January 2, 2018December 28, 2017 MU Sale $2,583,258 +12.2%−22.4%−19.2%
October 2, 2017September 29, 2017 MU Sale $4,531,766 +3.9%−5.6%−3.4%
March 31, 2017March 29, 2017 MU Sale $1,423,000 −1.7%+72.3%+69.1%
February 10, 2017February 9, 2017 MU Sale $3,104,640 +16.9%+61.9%+49.7%
October 27, 2016October 25, 2016 MU Sale $1,107,540 +32.5%+118.9%+112.5%
October 30, 2014October 28, 2014 MU Sale $2,963,800 −14.6%−54.8%−55.6%
August 13, 2014August 12, 2014 MU Sale $2,088,700 +1.3%−54.5%−50.8%
January 21, 2014January 16, 2014 MU Sale $1,381,200 +8.8%+16.6%+13.9%
November 13, 2013November 11, 2013 MU Sale $2,552,885 +29.1%+53.8%+64.3%
April 29, 2013April 26, 2013 MU Sale $598,500 +27.6%+157.0%+140.2%

Open-market purchases and sales of at least $10,000 in companies we cover, from SEC Form 4 filings; sales made under a pre-set Rule 10b5-1 plan are not shown. “Not yet” means the window has not finished or the share price was under $5 at entry. These are the shares’ moves after each trade: they say nothing about why Thorsen Steven L. Jr traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.