Intel CEO Lip-Bu Tan Purchases $9.7 Million in Shares Following 29% Stock Drop
Intel (INTC) CEO Lip-Bu Tan acquired 150,000 shares through a family trust on November 2 at an average price of approximately $64.73 per share. This $9.7 million investment occurred just one day after the company's stock plummeted 29% following weak fourth-quarter earnings guidance, which projected non-GAAP earnings per share of $0.25 compared to $0.52 in the previous quarter. The transaction is notable for its scale, being nearly 20 times larger than any single-day purchase made by current CEO Pat Gelsinger and significantly larger than previous executive buys. Unlike many prior insider transactions at Intel, this purchase was not flagged as part of a prearranged trading plan, suggesting a direct discretionary investment by the CEO following the recent price volatility.
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