Short Sellers Back Off Major Semiconductors
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 pushed many of these companies to new highs, but with the return of volatility, semiconductors will have to rally again if markets want to return to record levels.
The January 31 short interest data have been compared with the previous report. Short interest in these selected semiconductor stocks decreased.
Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 57.58 million shares. The previous level was 61.94 million. Intel shares were trading at $48.77 Tuesday morning, in a 52-week range of $42.36 to $57.60.
The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 119.78 million from the previous reading of 128.91 million. Shares most recently traded at $22.96, in a 52-week range of $9.04 to $34.14.
Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short fall to 39.71 million from the 54.56 million reported in the previous period. Shares were changing hands at $50.83, in a 52-week trading range of $48.56 to $76.50.
Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased to 13.87 million shares. The previous reading was 16.51 million. Shares were trading at $39.19, in a 52-week range of $28.79 to $62.40.
Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 59.68 million shares from the previous reading of 61.15 million. Shares were trading at $38.58, in a 52-week range of $28.39 to $64.66.
And the short interest in Broadcom Ltd. (NASDAQ: AVGO) decreased to 6.85 million shares from the previous 8.59 million. Shares were last seen at $275.72, in a 52-week range of $197.46 to $280.00.