Intel CEO Lip-Bu Tan buys $9.71 million of stock during extended selloff

Tan purchases Intel shares

Intel CEO Lip-Bu Tan bought 150,000 shares of Intel common stock for $9.71 million on November 2 through a family trust, according to a Form 4 filed with the U.S. Securities and Exchange Commission on November 4. The open-market transaction was executed in multiple trades at prices ranging from $64.705 to $64.735 per share, with a weighted average price of $64.7312.

Tan, who is also an Intel director, made the purchase after the chipmaker's shares fell sharply following its latest quarterly results and a weaker-than-expected fourth-quarter outlook. Intel shares dropped 28.6% on October 30, according to Quiver Quantitative. Their one-month decline reached approximately 51% by November 4.

Ownership increased through family trust

The purchase raised Tan's beneficial ownership through the family trust to 1,464,669 Intel shares. The filing also showed 500 shares held indirectly through a 401(k) plan. It listed 16,471 directly held shares as disposed of without providing a transaction date for that line, so the reviewed reporting does not establish when that disposal occurred.

The Form 4 characterized the reported purchase as an open-market acquisition. TipRanks described the transaction as approximately $10 million, while the reported share count, prices and total value give a more precise figure of $9,709,680.

Shares traded below the purchase price

Intel shares traded around $58.30 on November 4, approximately 10% below Tan's weighted average purchase price, Quiver Quantitative reported. Another account cited a price of $58.92 and a 36.6% weekly decline based on InvestingPro data, reflecting the stock's volatility and different measurement times.

Tan had previously purchased approximately $10 million of Intel shares at an average price of $95 in August, according to Quiver Quantitative.

Results shaped the market reaction

Intel's third-quarter revenue rose 21% year over year to $16.5 billion, while adjusted earnings were $0.52 per share. For the fourth quarter, the company projected revenue of $15 billion to $16 billion and adjusted earnings of $0.25 per share. TipRanks reported that the quarterly results missed Wall Street targets and that the fourth-quarter guidance was weak.

Management expects PC weakness to continue through at least the first half of 2027, Quiver Quantitative said. The reviewed reporting also cited analyst concerns about valuation, margins, an Israel fabrication facility issue and weakening PC demand.

Policy priorities disclosed in October

Intel's October lobbying disclosures covered CHIPS Act funding, government investment, semiconductor manufacturing tax credits, tariffs and export controls. The disclosures indicate the company's policy engagement but did not establish a new award, completed government investment or finalized policy outcome.