Major Semiconductors Scare Off Short Sellers

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Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are considered to be leading indicators for the markets in general. A strong rally in the tech sector has pushed many of these companies to new highs, and both the Dow Jones Industrial Average and S&P have recently closed near all-time highs.

The December 29 short interest data have been compared with the previous report. Short interest decreased in these selected semiconductor stocks.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 116.41 million shares. The previous level was 152.47 million. Note that, like AMD, Intel is one of the most shorted Nasdaq stocks. Shares were last seen trading at $42.92, in a 52-week range of $33.23 to $47.64.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 167.46 million from the previous level of 176.54 million. Shares recently traded at $11.95, in a 52-week range of $9.42 to $15.65.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short drop to 17.71 million, compared to the 18.17 million reported in the previous period. Shares were changing hands at $65.22, in a 52-week range of $48.92 to $69.28.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 10.95 million shares. The previous reading was 14.39 million. Shares were trading at $53.30, in a 52-week range of $32.60 to $60.89.

Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 57.25 million shares from the previous reading of 59.29 million. Shares were trading at $43.55, in a 52-week range of $21.49 to $49.89.

And the short interest in Broadcom Ltd. (NASDAQ: AVGO) decreased to 3.86 million shares in the period, from the previous 4.87 million. Shares were last seen at $263.00, in a 52-week range of $175.40 to $285.68.