Intel Chairman Omar Ishrak led the latest surge of insider buying at the chip giant, purchasing $1 million of the chip giant’s shares.
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Intel insiders continued buying stock last week, including some making their first open-market purchases.
Four Intel (ticker: INTC) directors bought $2 million of shares of the chip giant on Oct. 28, filings with the Securities and Exchange Commission show. These purchases follow a surge in buying earlier that week that included CEO Pat Gelsinger. Director Dion Weisler was a part of that group of buyers, and bought more shares later that week.
Dion is also in the latest group of buyers. He paid $500,000 for 10,351 more Intel shares, a per-share average price of $48.11. The former CEO of HP (HPQ) now owns 27,450 shares, according to an SEC filing.
Intel didn’t make any of the insiders available for comment.
The latest round of buying was led by Intel Chairman Omar Ishrak, who paid $1 million for 20,000 shares, a per-share average price of $48.02. He now owns 35,199 Intel shares. Ishrak joined the board in March 2017 and was named Intel’s chairman in January 2020. This is his first open-market purchase since joining Intel’s board. Other shares he owns are vested restricted stock units received for his service to Intel. Ishrak is a former chairman and CEO of Medtronic (MDT).
Intel director Gregory D. Smith paid $500,000 for 10,440 shares, a per-share average price of $47.96. The former Boeing (BA) chief financial officer now owns 14,793 shares. Smith’s purchase is his first on the open market since he was elected to Intel’s board in March 2017.
Director Tsu-Jae King Liu paid $48,000 for 1,000 Intel shares, a per-share average price of $48. Liu, who joined Intel’s board in July 2016, now owns 18,924 shares. This is her first purchase of Intel stock on the open market as a company insider. Liu is the dean and Roy W. Carlson Professor of Engineering in the College of Engineering at the University of California, Berkeley.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.
