On Monday, November 2, Intel (NASDAQ: INTC) CEO Lip-Bu Tan appears to have used his wallet to give his own company a vote of confidence following a brutal week in the stock market.
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This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Specifically, a Securities and Exchange Commission (SEC) filing, made on Wednesday, November 4, revealed that he purchased 150,000 INTC shares at an average price of $64.73, spending a total of $9.7 million.
This insider trade is the second time that the semiconductor giant’s CEO bought Intel stock in 2026, with the previous instance taking place on August 11, when he acquired 105,263 INTC for just under $10 million.
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Notably, the bulk of Intel stock’s insider volume this year came in the form of purchases. Indeed, the firm’s senior personnel bought a total of $19.95 million worth of equity across three trades and sold roughly $7.5 million across three trades.
The most recent such sale took place as far back as late May and involved slightly less than $2.5 million worth of INTC.
Receive Signals on SEC-verified Insider Stock Trades
This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Intel CEO buys $9.7 million INTC stock after 50% monthly plunge
Meanwhile, the timing of CEO Lip-Bu Tan’s purchase might be significant as Intel has been undergoing something of a crisis of confidence since late October.
Indeed, INTC stock suffered a 28% plunge last Friday, wiping approximately $146 billion from the blue-chip chipmaker’s market capitalization after the firm reported lower-than-expected revenue and earnings-per-share guidance for the fourth quarter (Q4).
These figures came in at $16 billion rather than the $17.07 billion analysts were calling for and at $0.25 instead of the forecasted $0.43, respectively.
Additionally, the depth of the downturn failed to trigger an upward correction, extending the losses since the October 29 close to 36.71% and the monthly loss to 49.85%.
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Trading in the Thursday pre-market likewise signals that Intel stock might be at risk of plunging below $50 as INTC shares dropped another 1.90% from $58.27 on Wednesday evening to $57.16 at press time.
Featured image via Shutterstock
