Technology

Short Sellers Switch Allegiances on Chip Stocks

Chip photo
Source: Thinkstock
We have tracked the key short interest changes as of September 30 in the following semiconductor leaders: Intel Corp. (NASDAQ: INTC), Advanced Micro Devices Inc. (NYSE: AMD), Micron Technology Inc. (NASDAQ: MU), SanDisk Corp. (NASDAQ: SNDK), Qualcomm Inc. (NASDAQ: QCOM), ARM Holdings PLC (NASDAQ: ARMH), Broadcom Corp. (NASDAQ: BRCM), Marvell Technology Group Ltd. (NASDAQ: MRVL), Nvidia Corp. (NASDAQ: NVDA), Texas Instruments Inc. (NASDAQ: TXN) and Applied Materials Inc. (NASDAQ: AMAT). We also chose to look at how the Market Vectors Semiconductor ETF (NYSEMKT: SMH) has held up.

Intel Corp.’s (NASDAQ: INTC) short interest rose 2.1% to 251.54 million shares. About 5.1% of Intel’s float is now short.

Advanced Micro Devices Inc. (NYSE: AMD) saw short interest fall by 4.6% to 108.7 million shares, or 17.8% of the company’s total float.

Qualcomm Inc. (NASDAQ: QCOM) short interest rose 10.1% to 26.44 million shares, which represents 1.5% of the company’s float.

ARM Holdings PLC (NASDAQ: ARMH) saw a 7.5% drop in short interest to 8.09 million shares, which represents about 1.7% of the firm’s float.

Micron Technology Inc. (NASDAQ: MU) showed a drop of 17.6% in short interest, to 92.33 million shares, or about 9% of Micron’s float.

SanDisk Corp. (NASDAQ: SNDK) saw short interest fall by 9.5% to 20.36 million shares, or 8.5% of the company’s float.

Short interest in Broadcom Corp. (NASDAQ: BRCM) rose 9% to 13.7 million shares. That is 2.6% of the total float.

Marvell Technology Group Ltd. (NASDAQ: MRVL) posted a 13.9% increase in short interest to 13.42 million shares, or about 3.4% of Marvell’s float.

Nvidia Corp. (NASDAQ: NVDA) short interest rose by 4% to 41.9 million shares, about 7.6% of the company’s float.

Texas Instruments Inc. (NASDAQ: TXN) saw short interest fall by 6% to 22.5 million shares, or 2.1% of the float.

Applied Materials Inc. (NASDAQ: AMAT) short interest rose 34.7% to 21.2 million shares, which is about 1.8% of the company’s float.

The Market Vectors Semiconductor ETF (NYSEMKT: SMH) showed a drop of 6.1% in short interest to 9.27 million shares.

Short interest in Micron fell off a cliff in the latter two weeks of the month. Reports that DRAM prices are rising and demand is improving have given the company a real boost. Applied Materials was the other big short play, mostly following its announced merger with Tokyo Electron. The stock jumped to a 52-week high after the announcement and the shorts loved the play.

Essential Tips for Investing: Sponsored

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.