Intel CEO Patrick Gelsinger Purchases $251,198 in Company Stock

Patrick Gelsinger, the CEO of Intel Corp (NASDAQ:INTC), made a recent stock purchase totaling $251,198. He bought 11,150 shares of the company's common stock at an average price of $22.529 each. This purchase took place on November 4, 2024, and brought Gelsinger's total direct ownership to 105,033 shares.

In addition to his direct holdings, Gelsinger has indirect ownership of shares through various trusts, which range from 1,480 to 191,926 shares across different accounts following this transaction.

Recent Developments at Intel

Intel has reported a third-quarter revenue of $13.3 billion, reflecting a 4% increase compared to the previous quarter. The company's programmable chips division, known as Altera, experienced a remarkable 14% sequential revenue growth, rising to $412 million for the quarter that ended on September 30.

There are also reports that private equity firms Silver Lake and Bain Capital are considering bids to acquire a minority stake in Altera. According to CEO Pat Gelsinger, this step is part of a strategy paving the way for an anticipated initial public offering planned for early 2025.

Market Insights

InvestingPro indicates that despite Intel's current challenges, there's been a positive shift in analyst sentiment. Thirteen analysts have recently upgraded their earnings expectations for the upcoming period, suggesting potential optimism for Intel's future performance.

The company's market capitalization is currently valued at $107.7 billion, solidifying Intel's significant presence in the Semiconductors & Semiconductor Equipment industry.

Financial metrics from Intel show a mixed picture. The firm reported a total revenue of $54.25 billion over the last twelve months, with modest growth of 2.62%. However, Intel faced an operating loss of -$3.73 billion, resulting in an operating margin of -6.88%, leading analysts to predict that profitability is unlikely this year.

Performance Insights

In contrast to these financial difficulties, Intel's stock has seen encouraging performance over the past three months, achieving a total return of 18.35%. This improvement may have influenced Patrick Gelsinger's decision to increase his stake in the company.

For those interested in further exploring Intel’s financial health and outlook, additional insights can be found through resources like InvestingPro.

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Intel, stock, Gelsinger