Are Semiconductor Shorts Signaling New Record Highs?

Technology

Published: July 25, 2019 8:20 am

Last Updated: January 30, 2020 6:09 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 keep hitting new record levels.

The July 15 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 61.05 million shares. The previous level was 55.92 million. Its shares were trading at $52.92 Thursday morning, in a 52-week range of $42.36 to $59.59.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short rose to 116.28 million from the previous reading of 113.59 million. Shares recently traded at $34.11, in a 52-week range of $16.03 to $34.86.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short rise to 27.43 million from the 23.28 million reported in the previous period. Shares were changing hands at $75.87, in a 52-week trading range of $49.10 to $90.34.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased slightly to 17.55 million shares. The previous reading was 17.32 million. Shares were trading at $52.14, in a 52-week range of $28.79 to $52.42.

Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 39.23 million shares from the previous reading of 42.98 million. Shares were trading at $47.99, in a 52-week range of $28.39 to $54.74.

And the short interest in Broadcom Inc. (NASDAQ: AVGO) decreased to 6.15 million shares from the previous 6.96 million. Shares were last seen at $303.77, in a 52-week range of $202.77 to $323.20.