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Weekly CFO Buys Highlight: Magma Design Automation Inc., BSD Medical Corp., Ocean Power Technologies Inc., Community West Bancshares

July 25, 2010 | About:
According to GuruFocus Insider Data, the largest CFO buys during the past week were Magma Design Automation Inc., BSD Medical Corp., Ocean Power Technologies Inc., and Community West Bancshares.

Magma Design Automation Inc. (LAVA): CFO Peter S Teshima Bought 4,429 Shares

CFO of Magma Design Automation Inc. (LAVA) Peter S Teshima bought 4,429 shares on 07/15/2010 at an average price of $3.34. Magma Design Automation, Inc. provides design and implementation software that enables chip designers to reduce the time it takes to design and produce complex integrated circuits used in the communications, computing, consumer electronics, networking and semiconductor industries. Magma Design Automation Inc. has a market cap of $178.7 million; its shares were traded at around $3.45 with and P/S ratio of 1.5.

Magma Design Automation Inc. reported revenue of $33.6 million for its fourth quarter and $123.1 million for its 2010 fiscal year, both ended May 2, 2010. Magma reported a net loss of $(0.7) million, or $(0.01) per share (basic and diluted), for the fourth quarter, compared to a net loss of $(9.9) million, or $(0.21) per share (basic and diluted), for the year-ago fourth quarter. For fiscal 2010 Magma reported a GAAP net loss of $(3.3) million, or $(0.07) per share (basic and diluted), compared to a net loss of $(129.2) million, or $(2.89) per share (basic and diluted), for fiscal 2009.

LAVA is in the portfolios of Jim Simons of Renaissance Technologies LLC, George Soros of Soros Fund Management LLC.

CFO Peter S Teshima and President and COO Roy E Jewell bought shares of LAVA stock.

BSD Medical Corp. (BSDM): CFO Dennis P Gauger Bought 3,000 Shares

CFO of BSD Medical Corp. (BSDM) Dennis P Gauger bought 3,000 shares on 07/19/2010 at an average price of $0.96. BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy as provided by focused radio frequency and microwave energy. Bsd Medical Corp. has a market cap of $28.3 million; its shares were traded at around $1.14 with and P/S ratio of 8. Bsd Medical Corp. had an annual average earning growth of 38.7% over the past 10 years.

BSDM is in the portfolios of Jim Simons of Renaissance Technologies LLC.

CFO Dennis P Gauger and President Harold R Wolcott bought shares of BSDM stock.

Ocean Power Technologies Inc. (OPTT): CFO Brian M Posner Bought 2,000 Shares

CFO of Ocean Power Technologies Inc. (OPTT) Brian M Posner bought 2,000 shares on 07/16/2010 at an average price of $5.44. OCEAN POWER TECHNOLOGIES, Inc. is a renewable energy company specializing in cost effective, advanced, and environmentally sound offshore wave power technology. Ocean Power Technologies Inc. has a market cap of $63 million; its shares were traded at around $6.05 with and P/S ratio of 12.3.

Ocean Power Technologies, Inc. announced its financial results for the year ended April 30, 2010. Revenue grew by 26% to $5.1 million for the fiscal year ended April 30, 2010, compared to $4.0 million for the same period in 2009. The net loss attributable to OPT for the year ended April 30, 2010 was $19.2 million, compared to a net loss of $18.3 million in the prior year.

OPTT is in the portfolios of Jim Simons of Renaissance Technologies LLC.

CFO Brian M Posner bought shares of OPTT stock.

Community West Bancshares (CWBC): CFO Charles G Baltuskonis Bought 1,961 Shares

CFO of Community West Bancshares (CWBC) Charles G Baltuskonis bought 1,961 shares on 07/22/2010 at an average price of $2.41. Community West Bancshares is a bank holding company. Community West Bancshares has a market cap of $14.5 million; its shares were traded at around $2.45 with and P/S ratio of 0.3.

Community West Bancshares reported net income of $51,000 in the first quarter of 2010, compared to a net loss of $6.7 million in the first quarter of 2009. Assets totaled $677.7 million at March 31, 2010, compared to $669.8 million a year earlier.

CFO Charles G Baltuskonis and Director, 10% Owner William R Peeples bought shares of CWBC stock.

For the complete list of stocks that bought by their CFOs, go to: Insider Buys.

About the author:

gurujk
Ravi Nagarajan is a private investor and Editor of The Rational Walk website. Ravi focuses on applying value investing techniques to find securities trading well below intrinsic business value. Ravi has over 15 years of experience in the financial markets and started investing on a full time basis in 2009. From 1996 to 2009, Ravi held a number of technical and executive level positions in the commercial software industry. Ravi graduated Summa Cum Laude from Santa Clara University with a degree in finance. Visit his website The Rational Walk

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