NYSE June 2007 Short Interest: Semiconductor Stocks (NSM, SMH, AMD, MU, TXN)

Stock Tickers: AMD, TXN, LSI, MU, NSM, CY, IFX, ADI, STM, TSM, SMH

The Semiconductor HOLDRs Trust (SMH) pretty much says it all, as the SMH short interest rose again in June as the ETF hit a new 52-week high.  Short interest rose from May’s 33.25 million shares up to 35.2 million shares in June; and that is after a rise from 23.76 million shares in April up to a 33.252 million shares in May.  Here are the following changes with the increases in short interest first (from May to June, 2007):

RISING SHORT INTEREST NAMES
Advanced Micro Devices (AMD) saw its short interest rise from 73.3 million shares to 73.79 million shares (14.1% of the float). Micron Technology (MU) saw its short interest rise quite a bit from 36.47 million shares up to 50.375 million shares (7.1% of the float).  National Semiconductor (NSM) saw its short interest skyrocket from 9.813 million shares to an unbelievable 52.9 million shares (broker hybrid security is probably cause).  This should be confirmed because that is almost hard to believe as it would be 17% of the float, but that is at multiple sources.  Cypress Semiconductor (CY) saw its short interest rise from 13.89 million shares to 15.495 million.  Infineon (IFX) saw its short interest rise from 2.688 million shares to 3.89 million. Analog Devices (ADI) saw its short interest rise from 6.127 million shares to 7.77 million shares.  Taiwan Semiconductor (TSM) saw its short interest rise from 11.33 million shares to 13.73 million shares.

A FEW FALLING SHORT INTEREST NAMES
LSI Corp. (LSI) saw its short interest drop from 44.55 million shares to 43.77 million shares.  STMicroelectronics (STM) saw its short interest fall again from 5.946 million shares to 3.7 million.  Texas Instruments (TXN) saw its short interest drop from 32.41 million shares to 30.6 million.

Jon C. Ogg
June 22, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.