Is Major Semiconductor Short Interest Signalling Further Market Highs?

Technology

Published: December 10, 2020 10:13 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 30 short interest data have been compared with the previous report, and short interest in most of these selected semiconductor stocks increased.

The number of Advanced Micro Devices Corp. (NASDAQ: AMD) shares short increased to 62.37 million from the previous reading of 60.10 million. Shares recently traded at $89.75, in a 52-week range of $36.75 to $96.37.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) grew to 12.88 million shares. The previous reading was 11.84 million. Shares traded at $86.92, in a 52-week range of $36.64 to $90.26.

Short interest in Broadcom Inc. (NASDAQ: AVGO) remained relatively flat at 3.56 million shares. Shares traded at $410.90, in a 52-week range of $155.67 to $426.70.

Intel Corp. (NASDAQ: INTC) saw its short interest drop to 50.57 million shares. The previous level was 73.18 million. Its shares were trading at $49.79 Thursday morning, in a 52-week range of $43.61 to $69.29.

Micron Technology Inc. (NASDAQ: MU) had its short interest increase to 30.27 million shares from the previous reading of 28.14 million. Shares were trading at $70.18, in a 52-week range of $31.13 to $74.61.

Nvidia Corp.’s (NASDAQ: NVDA) short interest rose to 6.37 million shares from the 5.97 million in the prior period. Shares were trading at $514.81, in a 52-week range of $180.68 to $589.07.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short decrease to 13.49 million from the 15.63 million reported in the previous period. Shares were changing hands at $153.76, in a 52-week trading range of $58.00 to $161.07.

And the number of Texas Instruments Inc. (NASDAQ: TXN) shares short increased to 12.34 million from 12.16 million in the period. The share price was $161.17 Thursday morning and has ranged from $93.09 to $167.24 in the past year.