The chief executive officers (CEO) of leading microchip and semiconductor companies are selling stock as share prices hit all-time highs.
Jensen Huang, the CEO of Nvidia (NVDA), has been selling stock as that company’s share price has more than tripled (up 212%) in the past 12 months.
Huang recently sold 720,000 Nvidia shares between June 13 and June 21 for a total of $94.6 million U.S. The stock was sold at an average price of $131.44 U.S. per share.
Huang still owns more than 700 million shares of Nvidia through various trusts and partnerships. He hasn’t been alone in selling stock in the company he runs.
The CEOs of other chip companies, including Micron Technology (MU), Qualcomm (QCOM), and Coherent (COHR) have also recently sold shares.
Micron Technology CEO Sanjay Mehrotra sold 457,280 shares worth $52 million U.S., executing the sales at an average price of $113.65 U.S. each.
Qualcomm CEO Cristiano Amon has sold 40,500 shares worth $6.9 million U.S. at an average price of $169.92 U.S. per share.
And Vincent Mattera Jr., who announced in February of this year that he is stepping down as Coherent CEO after eight years at the helm, recently sold 15,000 shares worth $846,700 U.S., for an average selling price of $56.45 U.S. each.
The stock sales come as each company has seen its share price rise more than 50% this year amid investor demand for stocks of chip companies that are associated with artificial intelligence (A.I.).