This Chipmaker Is Up 140% Today

Shares of SemiLEDs Corporation LEDS surged higher by nearly 150 percent on Thursday and hit a 52-week high of $8.73 on no new relevant news. SemiLEDs is a nano-cap manufacturer and seller of light emitting diode chips and LED components that are used mostly for general lighting applications. Benzinga issued a technical alert to its Pro subscribers after Tuesday's market close after the stock leaped and retreated on no news and heavy volume. The following day, the company announced it is has entered into a an agreement with Dr. Peter Chiou in which he will acquire 577,000 shares of the company's common stock, or 19.6 percent of all outstanding shares, at a price of $5.00 per share. Benzinga alerted its Pro subscribers to the large insider buy agreement following the official press release from the company. Shares of SemiLED were trading at $5.30 at that time. Shares of SemiLED were trading at $7.50 shortly after 11:00 AM ET on Thursday and were higher by more than 130 percent on the day.