Technology

Major Semiconductors Send Short Sellers Running for Cover

Chris Lange

Published: August 26, 2020 9:57 am

Last Updated: August 26, 2020 10:14 am

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 just a couple months ago, but with the current state of affairs with the coronavirus, semiconductors will be the deciding factor if markets want to return to record levels.

The August 14 short interest data have been compared with the previous report, and short sellers shied away from most of these selected semiconductor stocks.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 44.79 million from the previous reading of 51.33 million. Shares recently traded at $86.35, in a 52-week range of $27.43 to $87.29.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 16.11 million shares. The previous reading was 17.17 million. Shares traded at $64.05, in a 52-week range of $36.64 to $69.90.

Short interest in Broadcom Inc. (NASDAQ: AVGO) shrank to 3.61 million shares from the previous 3.35 million. Shares were last seen at $336.14, in a 52-week range of $155.67 to $337.09.

Intel Corp. (NASDAQ: INTC) saw its short interest fall to 41.77 million shares. The previous level was 42.73 million. Its shares were trading at $49.43 Wednesday morning, in a 52-week range of $43.63 to $69.29.

Micron Technology Inc. (NASDAQ: MU) had its short interest rise to 35.80 million shares from the previous reading of 31.64 million. Shares were trading at $45.10, in a 52-week range of $31.13 to $61.19.

Nvidia Corp.’s (NASDAQ: NVDA) short interest retreated to 55.30 million shares from the 62.01 million in the prior period. Shares were trading at $509.80, in a 52-week range of $159.00 to $516.50.

And Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short rose to 16.45 million from the 15.82 million reported in the previous period. Shares were changing hands at $115.95, in a 52-week trading range of $58.00 to $117.10.