Robert Swan, CEO of Intel (INTC), recently picked up 27,544 shares. The buy increased his holdings by nearly 6 percent. The total cost of the buy came to just over $1.5 million.
This marks the first buy at the company since October, also by Swan. Insiders have generally been steady sellers of shares over the past few years, as befits the stock-based compensation of a large company in the tech space.
Shares of Intel are down 20 percent over the past year, far underperforming the stock market as a whole, as well as the semiconductor sector. With shares moving higher in recent months, they’re still inexpensive at 12 times forward earnings. A new CEO can reinvigorate the company, likely creating some outperformance in the months and even year or so ahead. The company also reported promising earnings numbers in its latest report.
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Action to take: Investors may like shares here, as they yield 2.6 percent. The company has also done a solid job of growing its dividend.
For traders, the April 2021 $60 call option, trading for around $2.55, is a reasonable trade here. Shares have touched in to the low $60 range already in recent sessions, and is a way to play the current uptrend in shares for mid-to-high double-digit profits in the coming months.