Technology

Is Major Semiconductor Short Interest Signalling Further Market Highs?

Chris Lange

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.