Technology

Short Sellers Continue to Run for Cover From Major Semiconductors

Chris Lange

The short interest data have come out for the November 30 settlement date. It is important to note that semiconductor trends are considered to be leading indicators of technology and broader electronics demand.

On the broad scope, short sellers appear to have continued to back off these semiconductor stocks. The November 30 short interest data have been compared with the previous report.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 88.45 million shares, the lowest reading in the past 52 weeks. The previous level was 95.56 million. Shares closed Wednesday at $34.81, in a 52-week trading range of $24.87 to $37.90.

Advanced Micro Devices Inc. (NASDAQ: AMD) had its short interest decrease to 113.25 million shares. The previous level was 116.88 million, compared to the late July level of 157.66 million, easily the highest so far in 2015. Shares of AMD closed Wednesday at $2.35, in a 52-week trading range of $1.61 to $3.37.

Qualcomm Inc. (NASDAQ: QCOM) saw its short interest continue to shrink to 16.70 million, compared to the previous period, in which 17.49 million shares were reported short. Qualcomm shares closed Wednesday at $48.59, in a 52-week trading range of $47.52 to $75.72.

Applied Materials Inc. (NASDAQ: AMAT) short interest increased to 24.15 million shares. The previous reading was 21.04 million. The highest reading year to date was 82.90 million in late February. Shares closed Wednesday at $19.03, in a 52-week range of $14.25 to $25.71.

Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 59.85 million shares from the previous reading of 60.80 million. Short interest is currently at its lowest level of the year. Shares of Micron closed Wednesday at $14.32, in a 52-week range of $13.50 to $36.59.

SanDisk Corp. (NASDAQ: SNDK) had its short interest increase for the late-November settlement date. The most recent reading was 16.02 million shares, compared to the previous reading of 15.17 million. Shares closed Wednesday at $75.14, in a 52-week trading range of $44.28 to $103.51.

Broadcom Corp. (NASDAQ: BRCM) saw its short interest decrease to 4.92 million shares, versus the previous short interest level of 7.59 million. Note that Broadcom has entered into an agreement with Avago to be purchased for $37 billion. Shares closed Wednesday at $57.48, in a 52-week range of $40.21 to $58.14.