Intel CEO Buys $10 Million in Shares as Opendoor CEO Also Buys

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โดย Insider Monkey·US·Read original
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Intel CEO Lip-Bu Tan bought about $10 million worth of INTC shares earlier this month at $95 a share, the same price at which Intel had just priced a $20 billion secondary offering days earlier. Intel's Q2 revenue rose 25% year over year, a massive acceleration from Q1's 7% growth, with margins jumping to about 42% and AI segment growing 59% while foundry revenue rose 31%. Wedbush analyst Matt Bryson said Intel's advanced packaging technology, EMIB, could put the company in a position to win TPU orders from Google, which would be the first real signal that an outside chip designer trusts Intel's manufacturing enough to bet its own products on it. Bears point out that server revenue growth is related to price, not volumes, with average selling prices rising 48% while unit volumes grew only about 9%, and client computing segment prices up 27% while volumes were down 8%. A major chunk of Foundry revenue in the most recent quarter was due to Intel manufacturing chips for itself, with external customer revenue coming in at only about $293 million and the segment losing approximately $2.1 billion in operating income for the quarter. Intel has a non-GAAP trailing P/E of 88.70 against a sector median of 25.65, a 246% premium, and forward P/E of 63.91 versus 23.77, a 169% premium, while EV/Sales runs 8.64 forward against 3.64 for the sector, a 138% premium. Opendoor Technologies CEO Kaz Nejatian recently bought 27,625 shares of the company after Opendoor's Q2 report missed on both revenue and earnings, with the GAAP loss per share coming in wider than expected and adjusted EBITDA flipping negative. The company sold 2,339 homes during the quarter, short of consensus and sharply lower than the 4,299 homes sold in the same period last year, but management gave upbeat forward guidance, pointing to plans to gain licenses in more states. Bulls argue the stock could rebound on reduced competition, since Zillow exited the iBuying business back in 2021, leaving Opendoor as one of the few major players still standing in the space, and management expects adjusted net income to turn positive by the end of this year, guiding for Q3 revenue growth of at least 20% year over year. On a price-to-sales basis, the stock looks cheap at 0.91 versus a sector median of 4.91, an 81% discount, and net long debt to assets is just 5.91% against a 39.94% sector median, but price-to-book paints the most cautionary picture, with Opendoor trading at 3.56 times book value versus a sector median of 1.67, a 114% premium.

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Intel Corporation
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CEO buys $10M shares and Q2 revenue/margins/AI growth strong, but valuation premium noted.

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