Technology

Can Markets Push Higher With Mixed Semiconductor Short Interest?

Chris Lange

Published: April 26, 2017 8:55 am

Last Updated: January 12, 2020 12:38 pm

Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are considered to be leading indicators for the markets in general. A strong rally in the tech sector has pushed many of these companies to new highs, and both the Dow and S&P have recently pushed back near all-time highs on the back of a series of strong earnings reports.

There are potentially more positive reports coming out this week with the likes of Alphabet and Amazon reporting on Thursday.

The April 13 short interest data have been compared with the previous report. Short interest moves were mixed in these selected semiconductor stocks.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 92.29 million shares. The previous level was 93.26 million. Shares were last seen at $36.87, in a 52-week trading range of $29.50 to $38.45.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short increased to 119.42 million from the previous level of 111.32 million. Shares recently traded at $13.49, in a 52-week range of $3.45 to $15.55. Note that, like Intel, AMD is one of the most shorted Nasdaq stocks.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short drop to 15.98 million, compared to the 16.70 million reported in the previous period. Shares were changing hands at $53.00, in a 52-week range of $50.11 to $71.62.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) jumped to 13.35 million shares. The previous reading was 12.66 million. Shares were trading at $40.79, in a 52-week range of $19.46 to $40.87.

Micron Technology Inc. (NASDAQ: MU) saw its short interest rise only slightly to 43.60 million shares from the previous reading of 43.41 million. Shares were trading at $26.99, in a 52-week range of $9.35 to $29.87.

And the short interest in Broadcom Ltd. (NASDAQ: AVGO) decreased to 3.70 million shares in the period, from the previous 3.92 million. Shares were last seen at $223.20, in a 52-week range of $139.18 to $227.75.