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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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.
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.
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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 repo r ted 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%.
Intel stock price one-month chart. Source: Google
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
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