Shares of Intel and Mobileye, both companies where Pat Gelsinger holds leadership positions, have seen a decline in 2024. Despite this, Gelsinger has recently purchased more stock in both companies.

Intel's Stock Drop

Intel, for which Gelsinger serves as CEO, has experienced a drop of approximately 14% in 2024. This decline can be attributed to disappointing guidance in January, which overshadowed a strong fourth-quarter report.

Mobileye's Struggles

Mobileye, a chip maker for autonomous driving that was spun off from Intel in late 2022, has also suffered with a loss of one-third of its value year-to-date. The company's stock price took a hit when it provided a revenue outlook at the beginning of the year that missed estimates.

Gelsinger's Recent Stock Purchases

On February 1st, Gelsinger purchased 2,800 shares of Intel stock for a total of $119,700, with an average price of $42.74 per share. His purchase was made through a trust that now owns 31,275 Intel shares. In addition to these shares, Gelsinger also owns 66,386 shares in a personal account and another 456,915 shares through other trusts.

This recent purchase follows another acquisition of Intel stock made by Gelsinger on January 29th. On that day, he bought $130,100 worth of Intel stock through the same trust.

Gelsinger also purchased 3,600 shares of Mobileye stock on January 29th for $100,000, at an average price of $27.75 per share. This transaction was completed through a trust that now holds 129,095 Mobileye shares.

Both Intel and Mobileye declined the opportunity to comment on Gelsinger's stock purchases.

Biden Administration Invests $5 Billion in Advanced Computer Chips Consortium

Amazon Stock Soars to Highest Close in Over Two Years

Leave A Reply

Your email address will not be published. Required fields are marked *