The Strategist

Intel board member buys $2.5M worth of Intel stock

11/17/2023 - 07:06

Early in November, Lip-Bu Tan, Director of US semiconductor manufacturer Intel Corp., purchased 66,000 shares of the business for around $2.5 million, according to papers the company filed with the U.S. Securities and Exchange Commission (SEC).

Thomas Hawk
Thomas Hawk
The cost per paper to be purchased varied from $37.77 to $37.95. According to Dow Jones Market Data, the stock closed trading the previous day at $40.61 per paper, its highest level since July of last year.

September 2022 saw Tan, a longtime executive of Cadence Design Systems, a semiconductor developer, join the Intel board. He purchased $2.9 million worth of the company's stock in November of last year at an average price of $28.72 each paper. Following this, quotes increased dramatically, according to VerityData analysts.

Tan owns 166 thousand Intel shares through a trust fund, and he also individually owns another 6,000 equities.


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