Is Semiconductor Short Interest Signaling a Return to Market Highs?

Technology

Published: June 26, 2019 8:20 am

Last Updated: January 30, 2020 7:17 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 current state of affairs with China, semiconductors will have to rally again if markets want to return to record levels.

The June 14 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks increased.

Intel Corp. (NASDAQ: INTC) saw its short interest increase to 55.99 million shares. The previous level was 53.18 million. Its shares were trading at $46.85 Wednesday morning, in a 52-week range of $42.36 to $59.59. Note that Intel is one of the most shorted Dow stocks.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short rose to 111.48 million from the previous reading of 110.96 million. Shares recently traded at $28.86, in a 52-week range of $14.74 to $34.30.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short drop to 18.87 million from the 21.30 million reported in the previous period. Shares were changing hands at $72.55, in a 52-week trading range of $49.10 to $90.34.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased slightly to 14.86 million shares. The previous reading was 14.81 million. Shares were trading at $41.98, in a 52-week range of $28.79 to $50.39.

Micron Technology Inc. (NASDAQ: MU) saw its short interest grow to 42.80 million shares from the previous reading of 42.44 million. Shares were trading at $32.68, in a 52-week range of $28.39 to $58.15.

And the short interest in Broadcom Inc. (NASDAQ: AVGO) increased slightly to 6.32 million shares from the previous 6.31 million. Shares were last seen at $276.51, in a 52-week range of $197.46 to $323.20.