San Francisco, California – Nvidia’s stock has surged by an impressive 156% in 2024, with founder and CEO Jensen Huang leading the pack in stock sales among chip executives. Alongside Nvidia, companies like Micron Technology, Qualcomm, and Coherent have also witnessed their top executives divesting shares amidst soaring stock prices.
In recent developments, Nvidia has claimed the title of the world’s most valuable public company, with Huang disclosing the sale of 720,000 Nvidia shares between June 13 and 21 for a total of $94.6 million. These sales were executed through a predetermined trading plan, with Huang still holding a substantial number of Nvidia shares in various accounts.
Huang’s strategic selling plan initially included up to 600,000 Nvidia shares, but was revised following the company’s 10-for-one stock split effective in early June. The adjusted plan now spans six million shares, leaving Huang with additional shares to sell through March 2025. Such planned transactions serve to eliminate any suggestion of insider trading, as they are automatically executed based on preset conditions.
Moving onto Micron Technology, President and CEO Sanjay Mehrotra has sold 457,280 shares for $52 million in planned transactions from January to June. The surge in Micron stock prices has led to an increase in the average selling price of Mehrotra’s stock, underlining the strategic nature of his divestments.
Similarly, Qualcomm has seen a 47% increase in its stock value in 2024, with President and CEO Cristiano Amon partaking in planned stock sales totaling 40,500 shares for $6.9 million. Amon’s recent sales mark his first stock divestments in years, with an uptick in average selling prices echoing the company’s positive performance.
Meanwhile, Coherent’s CEO Vincent Mattera Jr. announced plans for retirement after two decades with the company, accompanied by strategic stock divestments in line with his trading plan. Mattera’s history of planned transactions underscores the meticulous approach taken by executives in managing their stock holdings amidst market fluctuations.
As these top executives navigate the complexities of stock sales, the dynamics of the semiconductor industry continue to evolve, with strategic divestments reflecting a blend of personal financial planning and market trends. The interplay between executive stock sales and company performance offers a unique insight into the strategic decision-making processes at play within these technology firms.