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Home News Intel CEO Pat Gelsinger Bolsters Position with $250,000 Stock Acquisition

Intel CEO Pat Gelsinger Bolsters Position with $250,000 Stock Acquisition

by sun

Intel’s Chief Executive Officer, Pat Gelsinger, has significantly increased his investment in the company by acquiring approximately $250,000 worth of Intel (NASDAQ: INTC) stocks, as disclosed in a late filing on Thursday. This purchase was executed through the Gelsinger family trust, which now commands ownership of more than 25,000 shares.

Gelsinger procured 3,400 shares at a price of $36.79 per share and an additional 3,375 shares at $36.82 per share on Wednesday. This move adds to his direct ownership of roughly 38,000 shares, along with additional holdings held through various trusts. Based on estimations by FactSet, Gelsinger’s cumulative holdings now surpass 500,000 shares.

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Despite Intel’s recent upswing of 9.3% following a robust earnings report and consistent gains in recent days, the company’s stock price remains 45% below its 2021 pinnacle of $68.26. The CEO’s increased investment might be interpreted as a vote of confidence in the firm’s future prospects, even as it navigates market challenges and strives to regain its previous high share price.

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InvestingPro Insights:
InvestingPro data and advice provide valuable insights into Intel’s current financial status and future outlook.

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InvestingPro Tips underscore Intel’s impressive history of consistently paying dividends for 32 consecutive years, with dividends having been raised for the past eight years. This underscores the company’s enduring strength and commitment to its shareholders. Nonetheless, analysts anticipate a decline in sales and a reduction in net income for the current year, reflecting the market difficulties confronting the company.

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Drawing from InvestingPro data, Intel boasts a substantial market capitalization of $158.94 billion, signifying its substantial size and influence within the market. Despite a negative P/E ratio, suggesting a lack of profitability in the previous twelve months as of Q3 2023, the company’s stock is trading close to its 52-week high. This may signal investor confidence in the company’s ability to surmount its current challenges and return to profitability.

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For a more comprehensive understanding of Intel’s financial outlook and tips, we encourage you to explore InvestingPro’s comprehensive resources, which offer an array of additional metrics and insights for Intel and other companies.

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