Is Semiconductor Short Interest Signalling a Market Recovery

Technology

Published: March 12, 2018 10:00 am

Last Updated: March 12, 2018 10:03 am

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 pushed many of these companies to new highs, but with the return of volatility semiconductors will have to rally again if markets want to return to record levels.

The February 28 short interest data have been compared with the previous report. Short interest decreased in most of these selected semiconductor stocks.

Intel Corp. (NASDAQ: INTC) saw its short interest decline to 98.82 million shares. The previous level was 103.76 million. Note that, like AMD, Intel is one of the most shorted Nasdaq stocks. Intel shares were last seen trading at $51.03, in a 52-week range of $33.23 to $52.30.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 159.55 million from the previous level of 165.38 million. Shares recently traded at $11.68, in a 52-week range of $9.70 to $15.65.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short shrink to 18.87 million from the 20.16 million reported in the previous period. Shares were changing hands at $62.81, in a 52-week trading range of $48.92 to $69.28.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 16.06 million shares. The previous reading was 13.75 million. Shares were trading at $61.28, in a 52-week range of $37.41 to $62.40.

Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease slightly to 62.47 million shares from the previous reading of 62.54 million. Shares were trading at $57.73, in a 52-week range of $24.94 to $57.86.

And the short interest in Broadcom Ltd. (NASDAQ: AVGO) retreated to 4.02 million shares in the period from the previous 4.98 million. Shares were last seen at $261.11, in a 52-week range of $208.44 to $285.68.