Short Sellers Back Way Off Major Semiconductors
The July 31 short interest data have been compared with the previous report. Short interest decreased in most of these selected semiconductor stocks.
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 and S&P have recently closed near all-time highs on the back of a series of strong earnings reports.
The July 31 short interest data have been compared with the previous report. Short interest decreased in most of these selected semiconductor stocks.
Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 92.38 million shares. The previous level was 93.93 million. Shares were last seen trading at $36.59, in a 52-week trading range of $33.23 to $38.45.
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The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short increased to 152.29 million from the previous level of 150.13 million. Shares recently traded at $12.83, in a 52-week range of $5.66 to $15.65. Note that, like Intel, AMD is one of the most shorted Nasdaq stocks.
Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short fall to 24.73 million, compared to the 25.50 million reported in the previous period. Shares were changing hands at $52.77, in a 52-week range of $51.05 to $71.62.
Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 13.30 million shares. The previous reading was 16.24 million. Shares were trading at $43.81, in a 52-week range of $26.41 to $47.86.
Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 53.65 million shares from the previous reading of 55.14 million. Shares were trading at $28.58, in a 52-week range of $14.21 to $32.96.
And the short interest in Broadcom Ltd. (NASDAQ: AVGO) decreased to 3.33 million shares in the period, from the previous 3.54 million. Shares were last seen at $249.17, in a 52-week range of $158.75 to $258.49.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
