NVIDIA has seen its stock rise by 156% in 2024, leading founder and CEO Jensen Huang to sell shares through a trading plan, making him the top seller among chip CEOs. Other companies such as Micron Technology and Qualcomm have also witnessed their executives selling shares to fortify themselves. Huang recently sold 720,000 Nvidia shares for $94.6 million and now owns 80.7 million shares personally. Micron’s Sanjay Mehrotra sold 457,280 shares for $52 million, while Qualcomm’s Cristiano Amon sold 40,500 shares for $6.9 million. Coherent also saw CEO Chuck Mattera selling shares before retirement. Overall, these planned transactions are being conducted to prevent the appearance of bias by utilizing preset conditions for trades to automatically execute.
Despite these sales, companies declined to comment on the matter. Micron did not make Mehrotra available, and Qualcomm did not respond to requests for Amon. Coherent did not comment on Mattera’s sales. Coherent’s shares have risen by 65% in 2024, with Mattera retiring and handing over the reins to Jim Anderson. Since Mattera is no longer associated with the company, he is not obligated to disclose further transactions.
Barron’s “Inside Scoop” regularly covers transactions by insiders, including corporate executives, board members, large shareholders, and other notable figures. These investors are required to disclose their stock transactions to regulatory groups like the SEC. For more information, you can contact Ed Lin at edward.lin@barrons.com or follow them on Twitter at @BarronsEdLin.
Article Source
https://www.barrons.com/amp/articles/nvidia-stock-sales-chip-ceos-26aa9eee