Technology

Short Sellers Look Selectively at Major Semiconductor Stocks

The short interest levels have been published for the March 13 settlement date. Recent short interest moves show that investors are continuing to have a mixed sentiment on the semiconductor industry, after the previous short interest reports have been slightly pessimistic. It also seems as though short sellers are looking at companies in the semiconductor space individually rather than as a group.

As a reminder, many investors and economists look at semiconductor trends as a leading indicator of technology and broader electronics demand.

Intel Corp. (NASDAQ: INTC) saw its short interest increase by about 11 million shares to 144.5 million, with 3.5 days to cover. The previous level was 133.3 million shares, with 6.0 days to cover. During this time, shares of Intel continued their slide lower off a 52-week high from December. Shares closed Tuesday at $30.79, in a 52-week trading range of $25.17 to $37.90. As a reminder, the fallout in the companies was very muted on Intel’s revenue warning.

ALSO READ: The Most Shorted Nasdaq Stocks List Now Topped by Intel

Advanced Micro Devices Inc. (NASDAQ: AMD) saw its short interest remain essentially flat at 93.1 million shares, with 7.7 days to cover, compared to the previous reading of 93.9 million shares and about 11.7 days to cover. Short interest for AMD had been steadily falling over the past few settlement dates, and this current level could be just a pause before it falls even lower. Shares closed Tuesday at $2.79. The 52-week trading range is $2.14 to $4.80.

Qualcomm Inc. (NASDAQ: QCOM) saw its short interest increase to 19.1 million shares, with 1.4 days to cover, compared to the previous period, which reported a reading of 17.0 million shares with 1.8 days to cover. The reading at the end of January was the lowest short interest reading in the past 52 weeks, and since this reading short interest has been steadily increasing. Qualcomm shares closed Tuesday at $68.97, in a 52-week trading range of $62.26 to $81.97.

Applied Materials Inc. (NASDAQ: AMAT) saw its short interest fall off to 80.4 million shares, with 5.6 days to cover, for the March 13 settlement date. The previous reading was 82.9 million, with 5.0 days to cover. The stock closed Tuesday at $23.90, in a 52-week trading range of $18.27 to $25.71.

Micron Technology Inc. (NASDAQ: MU) saw its short interest continue increase to 74.2 million shares, with 3.8 days to cover. Short interest has been in a constant decline since the mid-September settlement date, excluding the mid-January reading of 94.4 million with 2.9 days to cover and this current reading. On the year, the highest short interest reading was 125.3 million in July. Shares of Micron closed Tuesday at $27.96, in a 52-week trading range of $21.02 to $36.59.

ALSO READ: Merrill Lynch’s Top 3 RF Micro Chips Stocks to Buy

SanDisk Corp. (NASDAQ: SNDK) saw its short interest increase slightly for the mid-March settlement date. The reading was 16.3 million shares, with 3.9 days to cover, compared to the previous reading of 15.6 million, with 4.6 days to cover. Shares closed Tuesday at $84.75, in a 52-week trading range of $73.11 to $108.77.

Broadcom Corp. (NASDAQ: BRCM) saw its short interest increase to 6.9 million shares, with 1.5 days to cover, versus the previous short interest level of 5.0 million, with 1.0 day to cover. The past few short interest readings have been the lowest for the past 52 weeks. Broadcom shares closed Tuesday at $44.58, and they have a 52-week trading range of $28.86 to $46.31.

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