Is Major Semiconductor Short Interest Signalling a Rally?

Technology

Published: April 26, 2019 9:45 am

Last Updated: January 30, 2020 9:30 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 15 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks decreased.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 52.10 million shares. The previous level was 53.90 million. Intel shares were trading at $52.47 Friday morning, in a 52-week range of $42.36 to $59.59.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short fell to 112.02 million from the previous reading of 117.03 million. Shares recently traded at $27.39, in a 52-week range of $10.77 to $34.14.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short shrink to 18.45 million from the 23.03 million reported in the previous period. Shares were changing hands at $84.83, in a 52-week trading range of $49.10 to $88.63.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 13.57 million shares. The previous reading was 15.21 million. Shares were trading at $43.76, in a 52-week range of $28.79 to $56.94.

Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 36.44 million shares from the previous reading of 44.41 million. Shares were trading at $41.67, in a 52-week range of $28.39 to $64.66.

And the short interest in Broadcom Inc. (NASDAQ: AVGO) decreased to 5.05 million shares from the previous 5.44 million. Shares were last seen at $308.50, in a 52-week range of $197.46 to $322.45.