Technology

Is Major Semiconductor Short Interest Signaling More Record Market Highs?

Chris Lange

Published: November 25, 2020 9:43 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 have been a deciding factor as markets are returning to record levels.

The November 13 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 increased to 60.10 million from the previous reading of 47.11 million. Shares recently traded at $85.07, in a 52-week range of $36.75 to $94.28.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 11.84 million shares. The previous reading was 14.03 million. Shares traded at $82.95, in a 52-week range of $36.64 to $83.14.

Short interest in Broadcom Inc. (NASDAQ: AVGO) remained relatively flat at 3.50 million shares. Shares traded at $392.23, in a 52-week range of $155.67 to $393.89.

Intel Corp. (NASDAQ: INTC) saw its short interest drop to 73.18 million shares. The previous level was 86.54 million. Its shares were trading at $47.01 Wednesday morning, in a 52-week range of $43.61 to $69.29.

Micron Technology Inc. (NASDAQ: MU) had its short interest fell slightly to 28.14 million shares from the previous reading of 28.76 million. Shares were trading at $63.95, in a 52-week range of $31.13 to $64.50.

Nvidia Corp.’s (NASDAQ: NVDA) short interest slid to 5.97 million shares from the 6.10 million in the prior period. Shares were trading at $518.31, in a 52-week range of $180.68 to $589.07.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short increase to 15.63 million from the 15.36 million reported in the previous period. Shares were changing hands at $145.93, in a 52-week trading range of $58.00 to $153.33.

And the number of Texas Instruments Inc. (NASDAQ: TXN) shares short fell to 12.16 million from 12.95 million in the period. The share price was $159.35 Wednesday morning and has ranged from $93.09 to $164.63 in the past year.