Insider Confidence Is Building in These 3 Very Different Stocks

Key Points

• Intel Chief Executive Lip-Bu Tan bought nearly $10 million of Intel shares after the stock pulled back sharply from its highs.
• Republic Services has seen heavy buying from Cascade Investment, the Bill Gates-linked vehicle that already owns a large stake in the company.
• On Holding insiders stepped in after slowing growth and a steep stock decline, but earlier insider buys did not mark the bottom.

Insider buying is not a perfect signal, but it can be a useful one when executives or major shareholders step in after a stock has weakened. That is especially true when the buying comes from a CEO, a controlling shareholder, or insiders with deep knowledge of the company’s long-term prospects.

Insiders at key firms across the semiconductor, environmental services, and apparel industries are showing significant confidence in shares of their companies.

Perhaps one of the most intriguing insider buys in recent months involves a U.S. chip giant that is receiving substantial support from the federal government. Despite going on a massive run in 2026, shares are down sharply from their highs, and the CEO is buying in.

Intel’s CEO Piles in With Shares Down Over 30%

First up is one of the more divisive stocks in the artificial intelligence trade, semiconductor giant Intel NASDAQ: INTC. Intel has put up massive gains in 2026, up more than 140%. However, the company’s financial progress alone throughout the year doesn’t fully line up with such a large rise.

Notably, Intel grew sales by more than 25% year-over-year (YOY) in Q2, which was its fastest growth rate since 2011. However, this came after multiple quarters of negative revenue growth in 2025, and 25% growth is not particularly impressive when compared to other semiconductor stocks.

Still, the U.S. government has shown significant support for the company, viewing it as strategically important. Additionally, Intel’s AI central processing units (CPUs) are seeing brisk growth, helping AI data center sales rise 59% YOY in Q2. The company said its server CPU demand outlook improved and forecasts double-digit industry unit growth in 2026 and 2027.

Even with strong returns, Intel has fallen more than 30% from its highs. CEO Lip Bu Tan is showing significant confidence in the firm amid this. Tan has purchased just under $10 million worth of Intel shares at $95, moderately above recent prices. The lack of selling from Intel insiders overall is also telling. Tan’s buy alone is approximately double the value of Intel’s $4.99 million in insider sales in the last 12 months. These factors signal that Intel insiders have considerable conviction in the stock’s outlook.

Top Tech Founder Dumps Billions Into Republic Services

With a market capitalization of approximately $67 billion, Republic Services NYSE: RSG is the third most valuable company in the commercial services and supplies industry. It operates in a similar space to Waste Management NYSE: WM, collecting and processing recyclables and solid waste for residential and commercial customers.

This low-volatility stock has been largely flat in 2026, delivering a slightly positive return for the year. This comes as growth has been low as well, with revenues increasing by between 2% and 5% during the last seven quarters. However, the company raised its full-year guidance last quarter, expecting midpoint sales of $17.25 billion, which implies growth near 4%.

The stock has seen among the highest levels of insider buying of any name recently. In August alone, RSG’s insider sales totaled $562 million, which followed $202 million of purchases in Q2. The firm has also seen only $380,300 worth of insider sales in the last 12 months.

While many investors may not have heard of Republic, one of the most well-known businessmen of all time certainly has: Bill Gates. Essentially all of RSG’s recent insider buys come from Cascade Investment, L.L.C., which manages much of the Microsoft NASDAQ: MSFT founder’s fortune. Cascade now holds around 113.4 million RSG shares, giving it approximately 37% ownership in the firm, and suggesting a high level of conviction in this stock.

ON Insiders Buy in After Shares Collapse

Shoe company ON NYSE: ONON has had an extremely difficult 2026. Shares are down more than 35% on the year, falling further after a 15% decline in 2025. This comes after ON was one of the hottest consumer discretionary stocks in 2023 and 2024, delivering a total return of 219% over that period.

After accelerating to 43% YOY sales growth in Q1 2025, ON’s growth has taken a turn for the worse. Growth has dropped every quarter since, settling at just 13.5% YOY in Q2. Note that these figures are in U.S. dollar terms, with Swiss francs being the company’s home currency. The company effectively lowered its full-year growth guidance, expecting constant currency growth in the “low 20s” compared to “at least 23%” previously.

Following the report, shares plummeted by 20.3%, and multiple insiders have stepped in to buy since. Two executives recently purchased a total of just under $4 million in shares. This includes a buy from Caspar Coppetti, ON’s co-founder and current co-CEO. These recent buys follow $6.59 million of insider purchases in Q2, while ON has seen just $745,840 of insider sales during the last 12 months. The latest purchases came at $30.67 per share, above ON’s recent levels, providing a bullish indicator for the stock.

Insider Buys: Positive Signals, Not Gospel

Insiders at Intel, Republic Services, and ON are all signaling confidence in these names going forward, despite their disappointing returns recently. While these are positive indicators, investors should not take them in isolation, as insiders can be wrong, especially over the short term. Past insider buys at ON demonstrate this. Multiple insiders purchased shares at $36.64 several months ago, but certainly did not call the bottom, with the stock down over 15% since.

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