The telecommunications market may be dreary now, but at least one
broadband-gear provider's leadership is buying.
ADC announced that chairman and CEO Rick Roscitt and chief financial officer
Robert Switz have continued to purchase shares of the company's stock.
On Sept. 5, Roscitt purchased 100,000 shares, increasing his total to
566,326. He also bought shares in February and September 2001.
Switz, meanwhile, bought 18,000 shares between Aug. 27 and Sept. 5,
increasing his total holdings to 282,625. He has also made frequent company
stock purchases in 2001 and this year, according to the company.
Industry watchers often look at stock purchases by a company's executives as
a positive sign -- usually an indicator that these leaders expect stock prices
to rise soon.
ADC's stock was up 14 cents at midmorning before closing at $1.19 per
share, up 9 cents, or nearly 8.2 percent.