Short Sellers Run for Cover on Semiconductors

By Chris Lange Published Aug 26, 8:15AM EDT

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The short interest data have come out for the August 14 settlement date. It is important to note that semiconductor trends are considered to be leading indicators of technology and broader electronics demand. Chip makers with a solid position in the mobile space continue to advance.

On the broad scope, short sellers appear to be backing off these semiconductor stocks, as most of this sample had decreased short interest levels. The August 14 short interest data have been compared with the previous figures.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 117.35 million shares. The previous level was 127.30 million. Shares closed Tuesday at $25.87, in a 52-week trading range of $24.87 to $37.90.

Advanced Micro Devices Inc. (NASDAQ: AMD) had its short interest decrease to 137.19 million shares. The previous level was 157.66 million, easily the highest in 2015. Shares of AMD closed Tuesday at $1.66, in a 52-week trading range of $1.61 to $4.25.

Qualcomm Inc. (NASDAQ: QCOM) saw its short interest continue to decrease to 33.30 million, compared to the previous period, in which 43.53 million shares were reported short. The past few readings are the highest within the past 52 weeks. Qualcomm shares closed Tuesday at $53.88, in a 52-week trading range of $52.59 to $78.53.

Applied Materials Inc. (NASDAQ: AMAT) saw its short interest decrease to 19.01 million shares. The previous reading was 19.54 million. The current reading is the third lowest level of the year. The highest reading year to date was 82.90 million in late February. Shares closed Tuesday at $14.84, in a 52-week range of $14.25 to $25.71.

Micron Technology Inc. (NASDAQ: MU) saw its short interest rise to 62.86 million shares from the previous reading of 60.69 million. Short interest is currently at one of its lowest levels of the year. Shares of Micron closed Tuesday at $14.27, in a 52-week range of $13.50 to $36.59.

SanDisk Corp. (NASDAQ: SNDK) had its short interest decrease slightly for the mid-August settlement date. The most recent reading was 17.04 million shares, compared to the previous reading of 17.16 million. Shares closed Tuesday at $46.11, in a 52-week trading range of $44.28 to $106.64.

Broadcom Corp. (NASDAQ: BRCM) saw its short interest decrease to 8.47 million shares, versus the previous short interest level of 9.21 million. Note that Broadcom entered into an agreement with Avago to be purchased for $37 billion. Shares closed Tuesday at $47.19, in a 52-week range of $34.50 to $57.70.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.