Short Sellers Not So Keen on Major Semiconductors

Technology

Published: October 27, 2020 9:51 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 only recently, 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 October 15 short interest data have been compared with the previous report, and short interest in most of these selected semiconductor stocks decreased.

The number of Advanced Micro Devices Corp. (NASDAQ: AMD) shares short decreased to 26.67 million from the previous reading of 28.29 million. Shares recently traded at $82.23, in a 52-week range of $32.03 to $94.28.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 13.30 million shares. The previous reading was 14.56 million. Shares traded at $59.51, in a 52-week range of $36.64 to $69.90.

Short interest in Broadcom Inc. (NASDAQ: AVGO) rose to 4.03 million shares from the previous 3.90 million. Shares traded at $363.04, in a 52-week range of $155.67 to $387.80.

Intel Corp. (NASDAQ: INTC) saw its short interest drop to 96.18 million shares. The previous level was 118.19 million. Its shares were trading at $46.72 Tuesday morning, in a 52-week range of $43.63 to $69.29.

Micron Technology Inc. (NASDAQ: MU) had its short interest rose to 31.68 million shares from the previous reading of 28.16 million. Shares were trading at $52.14, in a 52-week range of $31.13 to $61.19.

Nvidia Corp.’s (NASDAQ: NVDA) short interest slid to 6.63 million shares from the 6.99 million in the prior period. Shares were trading at $525.65, in a 52-week range of $180.68 to $589.07.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short increase to 16.06 million from the 15.41 million reported in the previous period. Shares were changing hands at $126.20, in a 52-week trading range of $58.00 to $132.42.

And the number of Texas Instruments Inc. (NASDAQ: TXN) shares short fell from 13.44 million to 13.26 million in the period. The share price was $145.95 Tuesday morning, and has ranged from $93.09 to $158.88 in the past year.