Technology

One Semiconductor Stock Sees Short Interest Explode

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We have tracked the key short interest changes as of June 14 in the following semiconductor leaders: Intel Corp. (NASDAQ: INTC), Advanced Micro Devices Inc. (NYSE: AMD), Micron Technology Inc. (NASDAQ: MU), SanDisk Corp. (NASDAQ: SNDK), Qualcomm Inc. (NASDAQ: QCOM), ARM Holdings PLC (NASDAQ: ARMH), Broadcom Corp. (NASDAQ: BRCM), Marvell Technology Group Ltd. (NASDAQ: MRVL), Nvidia Corp. (NASDAQ: NVDA), Texas Instruments Inc. (NASDAQ: TXN) and Applied Materials Inc. (NASDAQ: AMAT). We also chose to look at how the Market Vectors Semiconductor ETF (NYSEMKT: SMH) has held up.

Intel Corp. (NASDAQ: INTC) short interest rose 2.3% to 229.6 million shares. About 4.6% of Intel’s float is now short.

Advanced Micro Devices Inc. (NYSE: AMD) saw short interest fall by 3.4% to 93.04 million shares, or 15.4% of the company’s total float.

Qualcomm Inc. (NASDAQ: QCOM) short interest fell 3.6% to 15.71 million shares, which represents 0.9% of the company’s float.

ARM Holdings PLC (NASDAQ: ARMH) saw a 38.4% rise in short interest to 4.4 million shares, which represents about 0.9% of the firm’s float.

Micron Technology Inc. (NASDAQ: MU) showed a rise of 11.9% in short interest, to 85.56 million shares, or about 8.4% of Micron’s float.

SanDisk Corp. (NASDAQ: SNDK) saw short interest remain virtually unchanged at 7.59 million shares, or 3.1% of the company’s float.

Short interest in Broadcom Corp. (NASDAQ: BRCM) more than doubled, up 145.3%, to 19.66 million shares. That is 3.8% of the total float.

Marvell Technology Group Ltd. (NASDAQ: MRVL) posted a 6.2% increase in short interest, to 5.09 million shares, or about 1.3% of Marvell’s float.

Nvidia Corp. (NASDAQ: NVDA) short interest fell by 10.6% to 52.82 million shares, about 9.6% of the company’s float.

Texas Instruments Inc. (NASDAQ: TXN) saw short interest decline by 4.6% to 18.84 million shares, or 1.7% of the float.

Applied Materials Inc. (NASDAQ: AMAT) short interest rose 22.7% to 16.96 million shares, which is about 1.4% of the company’s float.

The Market Vectors Semiconductor ETF (NYSEMKT: SMH) showed a drop of 8.9% in short interest to 7.15 million shares.

The startling jump in Broadcom’s short interest may be due to the fact that shares hit a 52-week high in late May and investors just could not see the stock going any higher. The consensus estimate of around $40 a share probably looked too high as Nvidia and TI looked to be getting stronger. Broadcom could see another rise in short interest in the current period, but probably not anywhere near the size of the last move.

 

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