Is Semiconductor Short Interest Signaling More Downside Ahead?
Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are seen as leading indicators for the markets in general. A strong rally in the tech sector pushed many of these companies to new highs just a month ago, but with the current state of affairs with the coronavirus, semiconductors will be the deciding factor if markets want to return to record levels.
The February 28 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks increased.
Intel Corp. (NASDAQ: INTC) saw its short interest rise slightly to 47.71 million shares. The previous level was 47.67 million. Its shares were trading at $53.98 Wednesday morning, in a 52-week range of $42.86 to $69.29.
The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 63.43 million from the previous reading of 74.62 million. Shares recently traded at $45.38, in a 52-week range of $22.80 to $59.27.
Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short rise to 19.30 million from the 18.66 million reported in the previous period. Shares were changing hands at $78.89, in a 52-week trading range of $54.92 to $96.17.
Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 16.42 million shares. The previous reading was 15.22 million. Shares traded at $56.17, in a 52-week range of $38.24 to $69.44.
Micron Technology Inc. (NASDAQ: MU) saw its short interest rise to 23.51 million shares from the previous reading of 22.83 million. Shares were trading at $47.86, in a 52-week range of $32.14 to $61.19.
And the short interest in Broadcom Inc. (NASDAQ: AVGO) decreased to 4.16 million shares from the previous 4.26 million. Shares were last seen at $262.90, in a 52-week range of $243.40 to $331.58.