Is Major Semiconductor Short Interest Signalling Further Market Highs?

By Chris Lange Published Dec 10, 10:13AM EST

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Is Major Semiconductor Short Interest Signalling Further Market Highs? — © Thinkstock

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 | AMD Price Prediction) 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.

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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.

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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.