Short Sellers Grow More Selective on Semiconductor Stocks

Technology

Published: May 10, 2018 10:45 am

Last Updated: January 11, 2020 11:49 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 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 April 30 short interest data have been compared with the previous report. Short interest moves in these selected semiconductor stocks were mixed.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 76.32 million shares. The previous level was 86.26 million. Note that, like AMD, Intel is one of the most shorted Nasdaq stocks. Intel shares were last seen trading at $54.25, in a 52-week range of $33.23 to $55.79.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 179.44 million from the previous level of 192.62 million. Shares recently traded at $12.05, in a 52-week range of $9.04 to $15.65.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short fall to 16.89 million from the 20.03 million reported in the previous period. Shares were changing hands at $54.45, in a 52-week trading range of $48.56 to $69.28.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) rose to 16.83 million shares. The previous reading was 14.46 million. Shares were trading at $54.70, in a 52-week range of $40.79 to $62.40.

Micron Technology Inc. (NASDAQ: MU) saw its short interest increase to 57.80 million shares from the previous reading of 53.50 million. Shares were trading at $51.85, in a 52-week range of $26.39 to $63.42.

And the short interest in Broadcom Ltd. (NASDAQ: AVGO) increased to 6.74million shares in the period from the previous 5.12 million. Shares were last seen at $240.25, in a 52-week range of $221.98 to $285.68.