TransSwitch Corp (NASDAQ: TXCC), a semiconductor company that specializes in digital and mixed signals for the telecommunications industry, rose another 1.03% in after-hours trading after having a monster surge of 21.25% during regular trading today.
TXCC stock rose from the previous close of 1.60 to the current after-hours price of 1.96. This increase comes two days after the company announced a new initiative with partner VoiceAge Corporation to incorporate high-definition voice technology over wired and wireless carrier networks. The after-hours increase is probably attributable to a revealing insider trade announced today.
CEO Mohammed Ali Khatibzadeh bought 233,700 shares of his company's stock today at an average price of $1.79 a share. This is a good signal to go along with the fact that the stock has decreased over 45% since November, 2009 - meaning that an upswing in the short-term is a likely prospect.
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