Technology

Short Interest Rises Across Major Semiconductors, With One Key Exception

Chris Lange

Published: October 26, 2016 7:10 am

Last Updated: January 13, 2020 1:56 am

The short interest data have come out for the October 14 settlement date. It is important to note that semiconductor trends are considered to be leading indicators of technology and broader electronics demand. A strong rally in the tech sector largely pushed many of these companies to new highs, as the Dow and S&P have both hit new all-time highs. But currently markets are retreating, begging the question whether this tech rally is over. The short interest might suggest that it is.

The October 14 short interest data have been compared with the previous report. Short interest increased for the most part in these selected semiconductor stocks, with one big exception.

Intel Corp. (NASDAQ: INTC) saw its short interest increase ever so slightly to 75.69 million shares. The previous level was 75.55 million. Shares closed Tuesday at $35.10, in a 52-week trading range of $27.68 to $38.36.

Advanced Micro Devices Inc. (NASDAQ: AMD) had a short interest increase to 96.86 million shares from the previous level of 93.37 million. Shares of AMD closed Tuesday at $7.49, in a 52-week range of $1.75 to $8.00.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares interest grow to 27.68 million, compared to the previous period, in which 23.08 million shares were reported short. Qualcomm shares closed most recently at $67.71, in a 52-week range of $42.24 to $70.40.

Applied Materials Inc. (NASDAQ: AMAT) short interest rose slightly to 14.22 million shares. The previous reading was 14.18 million. Shares closed Tuesday at $28.86, in a 52-week range of $15.44 to $31.07.

Micron Technology Inc. (NASDAQ: MU) saw its short interest drop to 60.85 million shares from the previous reading of 70.45 million. Shares closed Tuesday at $17.54, in a 52-week range of $9.31 to $18.33. Note that like AMD and Intel, Micron is one of the most shorted Nasdaq stocks.

Broadcom Ltd. (NASDAQ: AVGO) short interest slid to 4.46 million shares in the period from the previous of 4.59 million. Shares closed most recently at $173.65, in a 52-week range of $114.25 to $179.42.