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Chip company insiders sold a record $1.3 billion in stock during the third quarter

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NVIDIA Corp Nyheter

SPDR S&P 500 ETF Trust,Broadcom Inc,KLA Corp

Chip insiders have stepped up their sales of company stock this year as AI-driven demand for processing power has propelled the sector's outperformance.

Semiconductor executives took the opportunity of their companies' share outperformance this year to sell $1.35 billion worth of company stock during the third quarter, according to data from the Washington Service, which tracks insider transactions. That's the highest quarterly value sold by employees and directors of companies in the semiconductor industry, the Washington Service said, and includes pre-planned sales.

mountain Broadcom, YTD Six insiders from KLA Corp disclosed selling shares during the quarter, totaling around $29.9 million in value, according to Verity. CEO Richard Wallace and CFO Bren Higgins accounted for around $16 million of that total. Those trades were conducted under 10b5-1 trading plans. Insiders at Texas Instruments sold nearly $18 million worth of shares during the third quarter, most from exercising options, per Verity.

 

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