Technology

Short Sellers Run for Cover From Major Semiconductors

The short interest data have come out for the October 15 settlement date. It is important to note that semiconductor trends are considered to be leading indicators of technology and broader electronics demand. Chip makers with a solid position in the mobile space continue to advance.

On the broad scope, short sellers appear to have backed off these semiconductor stocks. The October 15 short interest data have been compared with the previous figures.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease slightly to 116.25 million shares. The previous level was 116.95 million. Shares closed Monday at $34.59, in a 52-week trading range of $24.87 to $37.90.

Advanced Micro Devices Inc. (NASDAQ: AMD) had its short interest decrease to 129.75 million shares. The previous level was 133.64 million, compared to the late July level of 157.66 million, easily the highest in 2015. Shares of AMD closed Monday at $2.15, in a 52-week trading range of $1.61 to $3.37.

Qualcomm Inc. (NASDAQ: QCOM) saw its short interest continue to decrease to 29.77 million, compared to the previous period, in which 31.24 million shares were reported short. The final few readings over the summer were the highest within the past 52 weeks. Qualcomm shares closed Monday at $59.21, in a 52-week trading range of $52.17 to $78.53.

Applied Materials Inc. (NASDAQ: AMAT) saw its short interest increase to 32.83 million shares. The previous reading was 27.10 million. The highest reading year to date was 82.90 million in late February. Shares closed Monday at $16.33, in a 52-week range of $14.25 to $25.71.

Micron Technology Inc. (NASDAQ: MU) saw its short interest fall to 62.56 million shares from the previous reading of 65.00 million. Short interest is currently at one of its lowest levels of the year. Shares of Micron closed Monday at $16.58, in a 52-week range of $13.50 to $36.59.

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SanDisk Corp. (NASDAQ: SNDK) had its short interest decrease for the mid-October settlement date. The most recent reading was 16.85 million shares, compared to the previous reading of 17.77 million. Shares closed Monday at $77.42, in a 52-week trading range of $44.28 to $106.64.

Broadcom Corp. (NASDAQ: BRCM) saw its short interest decrease to 7.80 million shares, versus the previous short interest level of 10.51 million. Note that Broadcom has entered into an agreement with Avago to be purchased for $37 billion. Shares closed Monday at $51.46, in a 52-week range of $39.43 to $57.70.