Intel CEO Lip-Bu?Tan Cashes Out Millions in Credo Shares
Tan offloaded 75,000 shares of Credo on June 6 through an investment entity for proceeds of about $5.6 million. The average price per share was roughly $75.20, based on a filing with the U.S. Securities and Exchange Commission.
Warning! GuruFocus has detected 7 Warning Signs with INTC.
Following the transaction, the investment vehicle still holds 888,725 shares in Credo. Tan also maintains personal exposure to the stock, including 133,583 shares through a trust, 53,574 in a personal account, and 39,736 via a limited liability company.
Credo, a provider of high-speed connectivity solutions, has climbed more than 9% year to date. By contrast, Intel shares have traded flat in the same period.
Intel stock is down around 22% since Tan took over as CEO on March 18. The company cut jobs and issued weak forecasts in April, citing ongoing challenges.
This article first appeared on GuruFocus.
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