Intel CEO sells shares

537272_537272Intel CEO Brian Krzanich has surprised the cocaine nose jobs of Wall Street by flogging off a big chunk of his shares.

According to a SEC filing on Nov. 04. Krzanich sold 35,000 shares at an average price of $34 each. The total value of the transactions was $1.2 million.
In the last 30 days, Krzanich also sold 35,000 shares valued at $1.06 million.

This is major insider selling, especially from the CEO. These sales have lowered Krzanich’s stake in Intel to 0.01% of the chip maker’s total market capitalisation.

He is not the only Intel executive trying to shift a lot of shares. Renee James sold 3,602 shares at an average price of $34.76 on October 26 in a transaction worth $125,206. Gregory Pearson sold off $51,472 worth and Andy Bryant sold $772,968.

All this is surprising. Most analysts consider Intel worth holding onto. UBS analysts think the stock is worth buying. This is mostly because Chipzilla has been doing better than Wall Street expected. One has to wonder if the executives know something we don’t.