The CEOs of chipmaker Nvidia Corp. and semiconductor equipment maker Lam Research Inc. sold millions of dollars worth of company stock in late June and early July, according to securities filings and information compiled by VerityData as of Wednesday. Insider sales are closely tracked by many professional investors. While the transactions may be for legitimate reasons, such as estate planning, some believe such transactions may also signal executives' or directors' thoughts on the direction of the company, the valuation of the stock, and industry or business trends. Nvidia CEO Jensen Huang sold $59.65 million worth of stock on June 28 and July 1. Lam Research CEO Timothy Archer sold $31.04 million worth of stock on June 28. Both executives made sales under 10b5-1 transaction plans, which set in advance the price and timing for executives to sell stock in the future. June 28 was the last trading day of the first half of the year.NVIDIA shares have risen more than 150% in the first half of the year, reaching $1,220 in early June before the company did a one-for-one stock split. Other largest recent insider sales, according to VerityData and securities filings, include: NVIDIA CEO Jensen Huang sold 480,000 shares at an average price of $124.27 each for gross proceeds of $59.65 million. The transaction was made under a 10b5-1 trading plan adopted in March and is part of an ongoing series of sales. Lam Research CEO Timothy Archer sold 29,000 shares at an average price of $1,070 each for gross proceeds of $31.04 million. The transaction was made under a 10b5-1 trading plan adopted in February. Adobe Systems CEO Shantanu Narayan sold 25,000 shares at $544.11 each for gross proceeds of $13.6 million. Juniper Networks Chief Financial Officer Kenneth Miller sold 80,000 shares at an average price of $36 per share for gross proceeds of $2.88 million. The transaction was made under a 10b5-1 transaction plan put in place in February. The transaction reduced his holdings by 32%, according to Verity. Consol Energy CEO James Block sold 17,400 shares at $100.85 per share for gross proceeds of $1.75 million. The transaction was made under a 10b5-1 transaction plan put in place last September. Tegna CEO David Loosey sold 98,400 shares at $13.98 per share for gross proceeds of $1.38 million. The transaction was made under a 10b5-1 transaction plan put in place last August. Loosey reportedly stepped down as CEO this summer and will continue to serve as a senior advisor. — CNBC's Nick Wells contributed to this report.
