$INTC - Intel CEO buys big on Friday
Patrick Gelsinger, Intel CEO, purchased 156,764 shares on Friday at the market price of $63.79. Total cost of this shopping spree, $9,999,975.56.
Deal on the horizon? Typical CEO buy? Does anyone have any insight on what might be driving such a large purchase? Not super familiar with the company or their line of products but a CEO purchase of that magnitude at market price always catches my eye.
Recent media articles say they are holding an event on March 23rd called "Intel Unleashed". Morgan Stanley analyst Joseph Moore has moved his price target for the company to $72. It's currently at $63.65 as of close on Friday.