Short Interest in Semiconductors Gains Momentum

On the broad scope, short sellers appear to be piling on these semiconductor stocks, as most of this sample has seen its short interest levels increase. The June 30 short interest data have been compared with the previous figures.

Intel Corp. (NASDAQ: INTC) saw its short interest increase to 138.42 million shares. The previous level was 128.27 million. Shares closed Friday at $29.16, in a 52-week trading range of $28.82 to $37.90.

Advanced Micro Devices Inc. (NASDAQ: AMD) had its short interest increase to 117.71 million shares. The previous level was 116.75 million. Shares of AMD closed Friday at $1.96, in a 52-week trading range of $1.93 to $4.80.

Qualcomm Inc. (NASDAQ: QCOM) saw its short interest decrease to 57.31 million, compared to the previous period, in which 63.17 million shares were reported short. The previous reading was the highest within the past 52 weeks. Qualcomm shares closed Friday at $62.72, in a 52-week trading range of $61.48 to $81.97.

Applied Materials Inc. (NASDAQ: AMAT) saw its short interest for the June 30 settlement date remain relatively flat at 18.53 million shares. The previous reading was 18.49 million, the lowest level of the year. The highest reading year to date was 82.90 million in late February. Shares closed Friday at $18.76, in a 52-week range of $18.51 to $25.71.

Micron Technology Inc. (NASDAQ: MU) saw its short interest fall to 60.85 million shares from the previous reading of 63.47 million. Short interest is currently at its lowest level of the year. Shares of Micron closed Friday at $17.58, in a 52-week range of $17.14 to $36.59.

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SanDisk Corp. (NASDAQ: SNDK) was another of the chip stocks that had its short interest increase in June. The most recent reading was 15.06 million shares, compared to the previous reading of 14.87 million. Shares closed Friday at $53.53, in a 52-week trading range of $53.38 to $108.77.

Broadcom Corp. (NASDAQ: BRCM) saw its short interest increase to 8.36 million shares, versus the previous short interest level of 8.18 million. Note that Broadcom has only just entered into an agreement with Avago to be purchased for $37 billion. Shares closed Friday at $52.06, in a 52-week range of $34.50 to $57.70.