Short Sellers Surrender on Key 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 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 March 15 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks decreased.
Intel Corp. (NASDAQ: INTC) saw its short interest increase to 57.09 million shares. The previous level was 53.95 million. Intel shares were trading at $53.44 Wednesday morning, in a 52-week range of $42.36 to $57.60.
The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short shrank to 114.67 million from the previous reading of 118.85 million. Shares recently traded at $25.69, in a 52-week range of $9.04 to $34.14.
Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short fall to 27.88 million from the 35.04 million reported in the previous period. Shares were changing hands at $58.00, in a 52-week trading range of $48.56 to $76.50.
Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 15.97 million shares. The previous reading was 13.96 million. Shares were trading at $39.63, in a 52-week range of $28.79 to $58.40.
Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 44.53 million shares from the previous reading of 50.89 million. Shares were trading at $40.32, in a 52-week range of $28.39 to $64.66.
And the short interest in Broadcom Inc. (NASDAQ: AVGO) dropped to 4.79 million shares from the previous 5.58 million. Shares were last seen at $297.03, in a 52-week range of $197.46 to $300.98.