On share buyback and share repurchase plans, Rakesh points to higher buybacks at companies like SanDisk Corp. (NASDAQ: SNDK), ON Semiconductor Corp. (NASDAQ: ONNN) and Skyworks Solutions Inc. (NASDAQ: SWKS). He thinks that this is potentially pointing to increased Optimism on their outlook and attractive current valuations. Nvidia Corp. (NASDAQ: NVDA) also was outlined as a potential winner with its new $750 million buyback announcement.

On the flip side, some chip companies are decreasing share repurchases, such as Analog Devices Inc. (NASDAQ: ADI) and Intel Corp. (NASDAQ: INTC). Analog Devices said that buybacks have come down significantly as it continues to be disciplined and opportunistic in share price buyback levels.

Then there is the dividend front that has enticed income-oriented investors for years now. Rakesh said, “Given an increasing Industry wide and investor focus on Dividends, we are pointing out that we currently have 7 names paying dividends.” The firm sees strong dividends (with yields included) in Avago Technologies Ltd. (NASDAQ: AVGO) at 2.2%, Cypress Semiconductor Corp. (NASDAQ: CY) at 3.9%, Nvidia Corp. (NASDAQ: NVDA) as a new dividend at a 2% yield, Analog Devices Inc. (NASDAQ: ADI) at a 2.9% yield, Intel Corp. (NASDAQ: INTC) at 3.7%, Qualcomm Inc. (NASDAQ: QCOM) at 2.1% and Texas Instruments Inc. (NASDAQ: TXN) with a 3% yield. Rakesh pointed out that dividend payout ratios have been going up on Avago Technologies and Cypress Semiconductor, while Nvidia is a new initiation.

For those who wish to avoid the individual company risks and eliminate the risk that either the Apple Inc. (NASDAQ: AAPL) iPad or iPhone upgrade will no longer include one company’s chipsets, there are exchange traded funds (ETFs) for the chip sector that capture the dividend and buyback names handily. The Market Vectors Semiconductor ETF (NYSEMKT: SMH) is listed as having a dividend of almost 2% and is very active, although we would point out that the last dividend was an annual dividend, and we have no way to know what the dividend will be for 2013.

Some of the expected upside in the share price is well above-market expectations for some of these names. Below is Vijay Rakesh’s coverage universe with ratings, price targets and implied upside or downside:

The wireless analysts at UBS A.G. (NYSE: UBS) did a thorough examination of all the first-quarter wireless data and found some pretty interesting trends. In recently released research, they highlight the 10 top trends in the U.S. wireless industry.

1. The wireless industry reported a net addition of 214,000 new subscribers, versus a loss of 14,000 last year. The industry also reported a loss of 783,00 handset users, almost double the year ago level. They expect this trend to continue and to pressure service revenue growth.

2. Verizon Communications Inc. (NYSE: VZ) continues to lead the carriers, with its 5.9% annual growth rate in subscribers. AT&T Inc.’s (NYSE: T) subscriber base grew a little more than 2%. Sprint Nextel Corp. (NYSE: S) subscribers continued to leave the carrier. A purchase of Sprint may be completed by this summer.

3. T-Mobile US Inc. (NYSE: TMUS) was the only carrier to actually gain a substantial number of new customers. The company sold more than 500,000 iPhones in a three-week period and launched service for the popular smartphone early in the second quarter. Most of the Sprint losses can be attributed to this very aggressive customer campaign.

4. Average revenue per user (ARPU) grew just 1.1%. That was down from 1.8% in the fourth quarter of last year and 3% from a year ago. While revenue growth has skyrocketed with more and more consumers spending time on their phones, the UBS analysts think a plateau may have been hit for now.

5. The carriers reported that smartphone new activations have dropped dramatically this year. They were up just 4.2%, after growing 16.7% in the fourth quarter of last year. Smartphone penetration, which is the number in use as a percentage of all cell phones, increased to 68.4%. That is encouraging statistic for the carriers, as it is still a long way from an anticipated final 83% level. This also could bode well for chip companies like Qualcomm Inc. (NASDAQ: QCOM) and Broadcom Corp. (NASDAQ: BRCM), in addition to the carriers and smartphone companies.

6. The industry activated 10.3 million of the popular Apple iPhone, up 15% versus the same period of last year. Sprint gained the most on a percentage basis, going from 21% to 26%. Verizon maintained its 45% share of the iPhone, while AT&T saw its share drop from 34% to 29%.

7. Industry revenue on an EBITDA basis grew 12.1%. All of the big four carriers saw margin improvement, thanks to a 6.6% upgrade rate. While that may sound like a strong number, it was the slowest upgrade rate since UBS began tracking the number in 2007. Going from an iPhone 5 to an iPhone 6 is an example of what comprises the upgrade rate.

8. Prepaid subscribers, or customers who pay for their plan upfront, grew just 5.4% in the first quarter. That was down from 6.7% in the fourth quarter and 10.8% a year ago. The UBS analysts expect just 1.9% prepaid subscriber growth in 2013. This comes even as the major carriers add and expand these plans.

9. Verizon continues to lead in adopting 4G LTE, with AT&T closing the gap fast. Faster carrier speeds for uploading and downloading of data, entertainment, video and gaming are imperative for continued user revenue growth.

10. The major carriers wireless capital expenditure (capex) budgets are growing fast. If the carriers spend more on new networks, this could prove extremely beneficial for the cell phone tower stocks. American Tower Corp. (NYSE: AMT), Crown Castle International Corp. (NYSE: CCI) and SBA Communications Corp. (NASDAQ: SBAC) all stand to benefit from the 4G LTE network build outs.

The UBS analysts are quick to point out that multiple risks do exist, including operational and financial leverage, potentially adverse regulatory rulings, changes in technology, increasing competition and exposure to economic cycles. The future for the wireless industry and companies with business plans leveraged to the industry is bright. Investors may want to wait for a market pullback to add some of the sector’s top names.

Effective May 20, 2013, in connection with a number of organizational changes, David Perlmutter, General Manager, Intel Architecture Group, will lead a management transition effort under which the businesses and engineering groups that currently are within Intel Architecture Group, including Datacenter and Connected Solutions Group and PC Client Group, will report directly to Mr. Krzanich.

Perlmutter’s responsibilities include overseeing chips for “handhelds, embedded devices, and consumer electronics.” Those are the areas where Intel has been an absolute failure, as the decline of the PC world has made many of the company’s business plans obsolete.

The lack of a program to compete effectively with companies like Qualcomm Inc. (NASDAQ: QCOM) in the mobile industry may have cost retiring CEO Paul S. Otellini his job. Many investors were surprised that Krzanich got the top position, as he was an insider who was in senior management during the period when Intel failed to move into new markets. It is both a fair observation and criticism.

And Intel has magnified the distress about the transition at the top of the company. Krzanich has been put in charge of a flailing company, as well as the division that is at the heart of the distress.

The Intel board was plenty upbeat when it announced is new CEO:

“After a thorough and deliberate selection process, the board of directors is delighted that Krzanich will lead Intel as we define and invent the next generation of technology that will shape the future of computing,” said Andy Bryant, chairman of Intel.

The board failed to mention that the company was in enough trouble that Krzanich would not be on the job for more than a week before he was sent to fix Intel’s largest problem all on his own.

The question that remains is where will the growth stay going forward, and which companies will be the leaders. The revised coverage is based primarily on a raised view for memory (DRAM) and wireless semiconductors, while the non-memory estimate for 2013 growth of +2.5% is more cautious.

What this means for investors is that UBS expects semiconductor sales growth to trough in this quarter and to peak by the first quarter of next year, still leaving some time for stocks to outperform. However, unless end-demand significantly improves, they believe we are at the stage in the cycle where investors have to become increasingly more selective. Their list of stocks to buy reinforces the selectivity angle.

Avago Technologies Ltd. (NASDAQ: AVGO) is a leading supplier for Apple Inc. (NASDAQ: AAPL) and has more than $1 billion of net cash on its balance sheet. The UBS price target for the stock is $42. The Thomson/First Call estimate is at $42 as well. Investors receive a 2.20% dividend.

Broadcom Corp. (NASDAQ: BRCM) is another big supplier to smartphone manufacturers. Broadcom supplies big clients like Apple with high-tech chips that integrate various functions, and it has recently attained several other major customers like Samsung and Nokia. The UBS target for the stock is $45. The consensus is at $40. Shareholders are paid a 1.20% dividend.

Linear Technology Corp. (NASDAQ: LLTC) reported third-quarter 2013 earnings that were in line with the consensus estimates. The weaker-than-expected revenue guidance may indicate limited growth prospects in several important markets, such as communications infrastructure and computing. UBS has a target for the stock of $40, while the consensus estimate is $35. Investors are paid a 2.70% dividend.

Maxim Integrated Products Inc. (NASDAQ: MXIM) is expanding its product portfolio to sensors, motion control and other areas of smartphones, tablets and hybrid devices, which will increase its dollar content per device. The UBS price objective for the stock is $37 and the consensus target is $36.05. Shareholders receive a 3.00% dividend.

Microchip Technology Inc. (NASDAQ: MCHP) is the sixth most shorted stock in the NASDAQ 100. Positive results could ignite a rally in the name. UBS has a $40 price target, and the consensus is at $40 also. Investors are paid a solid 3.80% dividend.

Micron Technology Inc. (NASDAQ: MU) is the second largest DRAM manufacturer in the world behind Samsung Electronics. The UBS target for this often volatile name is $12. The consensus is also at $12.

Nvidia Corp. (NASDAQ: NVDA) delivered a profit, beat Wall Street’s expectations and topped the revenue expectations. UBS has a $15.50 price target. The consensus is at $14. Investors are paid a 2.10% dividend.

Qualcom Inc. (NASDAQ: QCOM) has become a top holding for many portfolio managers around Wall Street. Former top Apple executive Jon Rubinstein recently joined the board of directors. The UBS target for this top name is $76. The consensus price objective is also at $76. Investors are paid a 2.20% dividend.

SanDisk Corp. (NASDAQ: SNDK) makes NAND chips through a joint venture with Japan’s Toshiba, which last Wednesday forecast a 34% increase in operating profit for this year, boosted by strong sales of flash memory chips. The UBS target for the stock is $65 and the consensus is at $65.50.

Silicon Laboratories Inc. (NASDAQ: SLAB) finishes up the list of top semiconductor stocks to buy. The company offers broad-based products, which include microcontrollers, clocks and oscillators, digital isolators and related products, touch controllers, proximity and ambient light sensors. The UBS target for the stock is $49. The consensus price objective is also $49.

One bonus for investors is many of the top stocks to buy are dividend-paying stocks, a reasonably new trait for technology stocks. Combining a solid dividend with the growth potential of semiconductor stocks could be a winning combination.

Intel Corp. (NASDAQ: INTC) short interest fell 1% to 233.21 million shares. About 4.7% of Intel’s float is now short.

Advanced Micro Devices Inc. (NYSE: AMD) saw short interest fall by 6% to 96.06 million shares, or 15.9% of the company’s total float.

Qualcomm Inc. (NASDAQ: QCOM) short interest rose by 3.4% to 14.29 million shares, which represents 0.8% of the company’s float.

ARM Holdings PLC (NASDAQ: ARMH) saw a 5.9% rise in short interest to 3.46 million shares, which represents about 0.7% of the firm’s float.

Micron Technology Inc. (NASDAQ: MU) showed a decline of 22.4%% in short interest, to 66.32 million shares, or about 6.5% of Micron’s float.

SanDisk Corp. (NASDAQ: SNDK) saw short interest fall by 16.7% to 7.8 million shares, or 3.2% of the company’s float.

Short interest in Broadcom Corp. (NASDAQ: BRCM) rose by 1.5% to 7.46 million shares. That is 1.5% of the total float.

Marvell Technology Group Ltd. (NASDAQ: MRVL) posted a 2.4% increase in short interest, to 5.6 million shares, or about 1.4% of Marvell’s float.

Nvidia Corp. (NASDAQ: NVDA) short interest rose by 1.8% to 26.52 million shares, about 4.5% of the company’s float.

Texas Instruments Inc. (NASDAQ: TXN) saw short interest decline by 5.9% to 26.5 million shares, or 2.4% of the float.

Applied Materials Inc. (NASDAQ: AMAT) short interest rose by 1.8% to 18.95 million shares, which is about 1.6% of the company’s float.

The Market Vectors Semiconductor ETF (NYSEMKT: SMH) showed a drop of 3.8% in short interest to 9.34 million shares.

Shorts in Texas Instruments got squeezed by the company’s better-than-expected quarterly earnings report and the faint-hearted dropped their positions and likely went looking for a better play.

During the prior two-week period, short sellers added more than 15% to their positions in SanDisk. In the most recent report, more than 16% dropped their short in their short position in the stock. Their timing looks good; SanDisk hit a two-month bottom on May 1 and has been on the rise ever since.

The projection for wirelessly connected devices comes from U.K.-based ABI Research and are part of the firm’s Internet of Everything (IoE) research service. The firm’s practice director said:

The emergence of standardized ultra-low power wireless technologies is one of the main enablers of the IoE, with semiconductor vendors and standards bodies at the forefront of the market push, helping to bring the IoE into reality. … Today, Hub devices such as smartphones, tablets, and laptops are pivotal in enabling the IoE ecosystem and will continue to be an essential building block. Future growth, however, is driven by node or sensor type devices and by 2020 these will account for 60% of the total installed base of devices.

Node and sensor devices typically use low-cost, relatively simple chips capable of doing a single task, like opening your garage door or turning on the furnace as you leave work to return to a nice warm home. The Internet of Everything is really cloud-computing pushed down to the level of devices that are not often thought of as computing machinery.

One of the technologies that is likely to thrive in this brave new world is Bluetooth. Chipmakers like Broadcom Corp. (NASDAQ: BRCM) and Texas Instruments Inc. (NASDAQ: TXN) that already make Bluetooth chipsets and are developing lower power version.

Another contending technology is known as Zigbee and is widely supported in electric utility circles as way to manage a demand-response electricity network. Silicon Laboratories Inc. (NASDAQ: SLAB) uses a Cortex processor from ARM Holdings plc (NASDAQ: ARMH) in its Zigbee products. ARM’s experience with low-power designs will provide yet another edge for the company. Last year Silicon Labs bought Ember, the industry’s leading developer of Zigbee chipsets.

Intel Corp. (NASDAQ: INTC), Advanced Micro Devices Inc. (NYSE: AMD), and Qualcomm Corp. (NASDAQ: QCOM) all make wireless LAN and WiFi chipsets, and while those will remain as the backbone of an IoE system, there will be a lot more IoE node devices than hub devices like laptops. Qualcomm may be furthest ahead in getting into supplying the low-end node processors.

In a new report, the analysts at Deutsche Bank move their exposure on the industrial sector from Overweight to Equal Weight. Banks and technology are upgraded to Overweight and are expected to outperform for the summer and the rest of 2013. Dividend guidance and hikes from technology, as well as earnings strength from the banks, are the main drivers for their rotation.

Here are the technology and banking stocks to buy from Deutsche Bank.

Citigroup Inc. (NYSE: C) has shown tremendous earnings strength, both domestically and around the world. The Deutsche Bank price target here is $53. The Thomson/First Call estimate is right in line at $53.

J.P. Morgan Chase & Co. (NYSE: JPM) recently received a vote of confidence for CEO and Chairman Jamie Dimon from none other than Warren Buffett. The Deutsche Bank target for the stock is $53, while the consensus is at $55.50. Investors receive a solid 3.20% dividend.

U.S Bancorp (NYSE: USB) is a Midwest mega-regional bank that makes the list. With its more than 3,000 branches in the Midwest and the West, earnings have been solid. The Deutsche Bank price objective is $38. Consensus is at $37. Investors are paid a 2.40% dividend.

Fifth Third Bancorp (NASDAQ: FITB) is another solid regional name to make the list. With shares recently hitting 52-week highs, the bank has seen solid insider purchasing. Deutsche Bank has a $17 target. The consensus estimate is at $18. Investors are paid a 2.60% dividend.

The PNC Financial Services Group Inc. (NYSE: PNC) rounds out the bank stocks to buy. Led by CNBC regular and Wall Street favorite Jim Rohr, the bank has continued to raise earnings and dividends. Deutsche Bank has a $74 price target, while the consensus is at $72. Investors receive a 2.60% dividend.

Qualcom Inc. (NASDAQ: QCOM) leads off the technology stocks to buy. Qualcomm is a major force in the high-mobility business, selling the smarts in smartphones and the intelligence in tablets. Deutsche Bank has a $78 price target. The consensus for the name is $76. Investors are paid a 2.20% dividend.

EMC Corp. (NYSE: EMC) is the leader in storage and also a majority owner of cloud software company VMWare Inc. (NYSE: VMW). Deutsche Bank has a $28 price target. The consensus target for the stock is higher at $29.

Google Inc. (NASDAQ: GOOG) makes the list. With everything from Internet search domination to Google Glass to YouTube, this may be the leading technology stock to own for years to come. Deutsche Bank has a $930 price target. The consensus is at $900.

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) provides information technology (IT), consulting and business process outsourcing services worldwide. Deutsche Bank has a $92 price target, while the consensus is at $86.

International Business Machines Corp. (NYSE: IBM) completes the list of tech stocks to buy. Big Blue has become the preeminent technology services company in the world. The Deutsche Bank price objective is $225. The consensus is right in line at $225. Investors are paid a 1.90% dividend.

Clearly the Deutsche Bank list is dominated by mega-cap stocks that are the leaders in their respective sectors. Investors, especially those with a long-term objective, can feel comfortable buying these stocks at this level. It may be wise to buy half positions now, and see if we do indeed experience the 5% pullback that Deutsche Bank expects.

These are the top analyst upgrades, downgrades and initiations we have seen from select Wall St. research calls this Friday.

Aflac Inc. (NYSE: AFL) raised to Buy from Neutral at Stern Agee.

Amazon.com Inc. (NASDAQ: AMZN) was maintained as Outperform but its target cut to $320 from $334 at Credit Suisse.

Anheuser-Busch InBev N.V. (NYSE: BUD) was cut to a Conviction Sell from a normal Sell rating at Goldman Sachs.

Boeing Co. (NYSE: BA) was raised to Buy from Hold at BB&T.

Boston Scientific Corp. (NYSE: BSX) raised to Outperform from Neutral and target price raised to $8.75 from $8.50 at Credit Suisse.

Corning Inc. (NYSE: GLW) reiterated Buy with $20 price target at Argus.

eBay Inc. (NASDAQ: EBAY) reiterated Buy with $65 target as pullback brings favorable entry point according to Argus.

Facebook Inc. (NASDAQ: FB) was raised to Strong Buy from Outperform at Raymond James.

National Instruments Corp. (NASDAQ: NATI) was downgraded to Neutral from Overweight at J.P. Morgan.

PennyMac Mortgage Investment Trust (NYSE: PMT) was raised to Outperform at KBW.

Qualcomm Inc. (NASDAQ: QCOM) reiterated Buy with $80 target, and the sell-off viewed as an opportunity to initiate or add to positions according to Argus.

Raymond James Financial Inc. (NYSE: RJF) was downgraded to Neutral from Buy at Citigroup.

Regions Financial Corp. (NYSE: RF) was raised to Buy from Hold at Jefferies.

SunPower Corp. (NASDAQ: SPWR) was raised to Outperform from Neutral at Baird.

Unisys Corp. (NYSE: UIS) raised to Positive from Neutral at Susquehanna.

USG Corp. (NYSE: USG) was removed from the Top Pick List at RBC Capital Markets and was given a new Outperform rating.

Windstream Corp. (NASDAQ: WIN) was downgraded to Neutral from Buy at Bank of America/Merrill Lynch.

Credit Suisse on MLPs: DCP Midstream Partners L.P. (NYSE: DPM) and Exterran Partners L.P. (NASDAQ: EXLP) were both downgraded to Neutral from Outperform as growth is priced in. EQT Midstream Partners L.P. (NYSE: EQM) was raised to Outperform from Neutral and target raised to $47 from $41 after strong results.

The U.S. dollar index is trading down 0.38% today, now at 82.733. The GSCI commodity index is up 1.2% at 614.65. WTI crude oil closed up 2.4%, at $93.64 a barrel. Brent crude trades up 1.6% at $103.40 a barrel. Natural gas is up fractionally today at about $4.17 per million BTUs after an in-line storage report (more coverage here). Gold settled up 2.7% today at $1,462.00 an ounce, chalking up its largest one-day gain so far this year.

The unofficial closing bells put the DJIA up more than 35 points to 14,711.82 (0.24%), the NASDAQ rose nearly 23 points (0.70%) to 3,292.48, and the S&P 500 rose 0.47% or more than 6 points to 1,585.17.

There were a several analyst upgrades and downgrades today, including F5 Networks Inc. (NASDAQ: FFIV) raised to ‘buy’ at Nomura; Federal-Mogul Corp. (NASDAQ: FDML) raised to ‘neutral’ at Goldman Sachs; Intuit Inc. (NASDAQ: INTU) cut to ‘neutral’ at Citigroup and J.P. Morgan; Apple Inc. (NASDAQ: AAPL) raised to ‘buy’ at Hilliard Lyons; and McGraw Hill Companies Inc. (NYSE: MHP) cut to ‘hold’ at Jefferies.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: Angie’s List Inc. (NASDAQ: ANGI) is up 30.1% at $26.16 after posting a new 52-week high of $26.72 earlier today; Bally Technologies Inc. (NYSE: BYI) is up 11.4% at $54.67 after posting a new 52-week high of $54.74 earlier today; Fusion-io Inc. (NYSE: FIO) is up 18.4% at $19.70; O’Reilly Automotive Inc. (NASDAQ: ORLY) is up 4.7% at $105.86 after posting a new 52-week high of $108.98 earlier today; Qualcomm Inc. (NASDAQ: QCOM) is down 5.4% at $62.42 (more coverage here); Vale SA (NYSE: VALE) is up 1.8% at $17.05; Western Digital Corp. (NASDAQ: WDC) is down 0.1% at $52.86 after posting a new 52-week high of $57.95 earlier today; 3M Co. (NYSE: MMM) is down 2.7% at $105.00; Altria Group Inc. (NYSE: MO) is up 1.1% at $35.92; Bunge Ltd. (NYSE: BG) is up 6.9% at $72.99; Exxon Mobil Corp. (NYSE: XOM) is down 1.3% at $88.25 (more coverage here); Potash Corp. of Saskatchewan Inc. (NYSE: POT) is up 3.1% at $40.85 (more coverage here); Proto Labs Inc. (NASDAQ: PRLB) is down 1.3% at $48.10 (more 3D printing coverage here); and Safeway Inc. (NYSE: SWY) is down 14.1% at $24.28 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear earnings reports from Amazon.com Inc. (NASDAQ: AMZN), Baidu Inc. (NASDAQ: BIDU), Clearwire Corp. (NASDAQ: CLWR), Coinstar Inc. (NASDAQ: CSTR), HealthSouth Corp. (NYSE: HLS), Olin Corp. (NYSE: OLN), Range Resources Corp. (NYSE: RRC), Starbucks Corp. (NASDAQ: SBUX), Wynn Resorts, Ltd. (NASDAQ: WYNN), Alcatel-Lucent (NYSE: ALU), Burger King Worldwide Inc. (NYSE: BKW), Chevron Corp. (NYSE: CVX), National Oilwell Varco Inc. (NYSE: NOV), and VF Corp. (NYSE: VFC).

Some standouts among heavily traded stocks today include:

MPG Office Trust Inc. (NYSE: MPG) is up 20.6% at $3.14. The office and real-estate development REIT is being acquired by Brookfield Office Properties Inc. (NYSE: BPO) for $3.15 a share..

Cliffs Natural Resources Inc. (NYSE: CLF) is up 16.1% at $21.15. The steelmaker and iron ore miner posted better-than-expected results this morning.

Zynga Inc. (NASDAQ: ZNGA) is down 7.1% at $3.11. The social games company posted poor results last night and expectations are not encouraging. More coverage here.

Stay tuned for Friday. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – GDP
• 9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment index

Intel Corp. (NASDAQ: INTC) short interest fell 1.4% to 235.47 million shares. About 4.8% of Intel’s float is now short.

Advanced Micro Devices Inc. (NYSE: AMD) saw short interest rise by 10.6% to 102.23 million shares, or 16.9% of the company’s total float.

Qualcomm Inc. (NASDAQ: QCOM) short interest rose by 1.2% to 13.82 million shares, which represents 0.8% of the company’s float.

ARM Holdings PLC (NASDAQ: ARMH) saw an 8% decline in short interest to 3.27 million shares, which represents about 0.7% of the firm’s float.

Micron Technology Inc. (NASDAQ: MU) showed a rise of 9.9% in short interest, to 85.42 million shares, or about 8.4% of Micron’s float.

SanDisk Corp. (NASDAQ: SNDK) saw short interest rise by 15.5% to 9.36 million shares, or 3.9% of the company’s float.

Short interest in Broadcom Corp. (NASDAQ: BRCM) rose by 6.2% to 7.35 million shares. That is 1.4% of the total float.

Marvell Technology Group Ltd. (NASDAQ: MRVL) posted a 7.7% drop in short interest, to 5.26 million shares, or about 1.2% of Marvell’s float.

Nvidia Corp. (NASDAQ: NVDA) short interest rose by 1.8% to 26.52 million shares, about 4.5% of the company’s float.

Texas Instruments Inc. (NASDAQ: TXN) saw short interest increase by 23.2% to 28.17 million shares, or 2.6% of the float.

Applied Materials Inc. (NASDAQ: AMAT) short interest rose by 25.9% to 18.95 million shares, which is about 1.6% of the company’s float.

The Market Vectors Semiconductor ETF (NYSEMKT: SMH) showed a rise of 6.9% in short interest to 9.71 million shares.

Shorts piled back into Texas Instruments during this period, likely not expecting the stock to post a new high following its earnings report earlier this week.

A better short bet was Applied Materials. The maker of equipment used in chipmaking took a dive last week before recovering most of the loss this week. SanDisk’s swing was even larger in the past two weeks. Short interest in both these stocks should drop in the current two-week period.