July 13, 2024

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Nvidia CEO Jensen Huang sold $95 million worth of stock. Micron and other chip CEOs are selling.

Nvidia CEO Jensen Huang sold  million worth of stock.  Micron and other chip CEOs are selling.

Nvidia shares are up 156% so far in 2024, and founder, president and CEO Jensen Huang has been selling shares through a trading plan. He’s the best seller among chip CEOs who have seen the stock rise yet

Standard & Poor’s 500.

Micron technology


Coherent also saw its top executives aggressively sell shares.

Last week, Nvidia took the world by storm Most valuable public companyHuang revealed that It sold 720,000 shares of Nvidia stock From June 13 Within 21 To make the total $94.6 millionAt an average price of $131.44 each. He sold the shares through a so-called Rule 10b5-1 trading plan that was approved on March 14, and now owns 80.7 million shares of Nvidia In a personal account, according to the form it filed with the Securities and Exchange Commission. Huang owns another 605 million shares of Nvidia stock through a trust, 49 million shares through a partnership, and 132 million shares through trusts.

Huang was considering selling up to 600,000 shares of Nvidia stock when he presented his plan, but that was before the company decided to sell up to 600,000 shares. Stock split 10 for one This was effective after the market closed on June 7. On a post-split basis, the sale plan covers six million shares, so Huang has another 5,280,000 shares, and his plan runs through March 2025. Executives like Huang use planned transactions to remove the appearance of bias from knowing non-public information. The plans automatically execute transactions when predefined conditions, such as price and volume, are met.

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Huang Stock sales last year, all in September, a total of 237,500 pre-split Nvidia shares were sold for $110 million, at an average price of $463.95 per share. Those were also planned transactions, those that involved acquiring shares through the use of options.

Nvidia did not make Huang available to comment on his stock sales, and the company declined to comment.

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Micron Technology President and CEO Sanjay Mehrotra did just that It sold 457,280 shares for $52 millionAt an average price of $113.65 each. Planned sales extended from January Until June, and participate in obtaining shares through options. Micron stock is up 64% year to date, and Mehrotra’s average selling price has risen along with the stock price from about $82 in early January to about $152 in mid-June.

He actually sold more stock than last year. In 2023 Mehrotra Sold 342,000 Micron shares For $25.5 million, with an average price of $74.57 each. Those planned sales also included acquiring shares through options.

Micron did not make Mehrotra available for comment on its stock sales, saying in an email: “We are currently in a quiet period.”

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Qualcomm shares are up 47% so far in 2024, achieved by President and CEO Cristiano Amon. It sold 40,500 shares for $6.9 million In transactions planned from January through May, at an average price of $169.92 each. The average selling price rose to $190 in mid-May from about $150 in January.

Amon, who has been CEO since June 2021, has not sold his shares for years until 2024. Before this year, his company The most recent stock sale was in December 2021 When he sold 5,400 shares through a planned transaction for $1.02 million, at an average price of $189.50 per share.

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Qualcomm did not respond to a request to make Amon available for comment.

Vincent “Chuck” Di Matera Jr. told Coherent’s board of directors in February that after 20 years at the company, the last eight as CEO, He intends to retire When a successor was found.

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But filing the notice didn’t stop Matera, who was too Chair since 2021, from selling shares. From March until May is Sold 15,000 consolidated shares In planned transactions amounting to $846,700, at an average price of $56.45 each. With its business plan, approved on December 7, Matera expects to do just that Sell ​​up to 65,000 consolidated sharesAnd use stock options to buy and sell up to another 128,620 shares through the end of 2024.

Last year, Matera 61,000 shares soldall through transactions planned for June, For $3.3 millionOr $54 each.

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Coherent did not respond to a request to make Mattera available for comment on its stock sales.

Consolidated stock is up 65% so far in 2024. As of June 3, the company will He was appointed new CEO: Jim Anderson, President and CEO of Lattice Semiconductors. Matera retired and left Coherent’s board of directors. Because he is no longer a company insider, Mattera is not required to disclose trades in Coherent stock.

Inside Scoop is a regular Barron’s feature that covers stock transactions made by corporate executives and board members — so-called insiders — as well as major shareholders, politicians and other notable figures. Due to their insider status, these investors are required to disclose stock trades with the SEC or other regulatory groups.

Write to Ed Lin at [email protected] and follow along @baronsedlin.

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