Intel CEO Pat Gelsinger has recently purchased additional shares of both Intel and Mobileye, signaling his confidence in the tech companies. While Intel shares have experienced a significant gain this year, there is still ground to be made up after a challenging 2022, during which shares plummeted by 49%.

Gelsinger acquired a total of 7,100 Intel shares between July 31 and August 2, at an average price of $35.20 per share. These purchases were made through trusts under Gelsinger's control. Additionally, Gelsinger holds 337,129 Intel shares through trusts and owns an additional 148,489 shares in a personal account.

This recent stock purchase follows Gelsinger's previous acquisition of Intel shares in May, when he purchased 8,200 shares for an average price of $30.41 each.

Gelsinger's investment activities were not limited to Intel. As a Mobileye director, he also purchased 2,650 Mobileye shares on July 31, at an average price of $37.88 per share. Mobileye, an Intel spinoff focused on developing autonomous-driving technologies, has seen its stock surge since its initial public offering in late October.

While Intel declined to comment on Gelsinger's recent stock purchases, these transactions suggest his optimism surrounding the company's future. Furthermore, Gelsinger's investment in Mobileye demonstrates his belief in the potential of their autonomous-driving technologies.

It is important to note that corporate executives and insiders are required to disclose their stock trades with regulatory groups like the Securities and Exchange Commission. These transactions allow investors and the public to gain insights into the confidence and commitment of these prominent figures.

_Inside Scoop is a regular feature covering stock transactions by corporate executives and board members, large shareholders, politicians, and other prominent figures.*

Leave Comment