Major Semiconductors Send Short Sellers Running for Cover

By Chris Lange Published Aug 26, 9:57AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Major Semiconductors Send Short Sellers Running for Cover — © golubovy / Getty Images

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 | AMD Price Prediction) 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.

[nativounit]

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.

[recirclink id=731330][wallst_email_signup]

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.