Are Semiconductor Short Sellers Signaling the Rally Is Over?

Technology

Published: November 12, 2019 9:45 am

Last Updated: January 30, 2020 1:17 pm

Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are seen as 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 continue hitting new record levels.

The October 31 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 grow to 56.71 million shares. The previous level was 55.55 million. Its shares were trading at $58.35 Tuesday morning, in a 52-week range of $42.86 to $59.59.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short increased to 143.25 million from the previous reading of 141.29 million. Shares recently traded at $36.31, in a 52-week range of $16.03 to $37.18.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short drop to 18.12 million from the 19.60 million reported in the previous period. Shares were changing hands at $91.84, in a 52-week trading range of $49.10 to $94.11.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 18.56 million shares. The previous reading was 17.62 million. Shares traded at $56.59, in a 52-week range of $28.79 to $57.29.

Micron Technology Inc. (NASDAQ: MU) saw its short interest rise to 34.75 million shares from the previous reading of 33.47 million. Shares were trading at $46.26, in a 52-week range of $28.39 to $51.39.

And the short interest in Broadcom Inc. (NASDAQ: AVGO) decreased ever so slightly to 5.72 million shares from the previous 5.79 million. Shares were last seen at $312.75, in a 52-week range of $217.61 to $323.20.