Major Semiconductors See Receding Tide in Short Interest

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 March 31 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 drop to 42.35 million shares. The previous level was 49.82 million. Its shares were trading at $57.52 Monday 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 66.38 million from the previous reading of 67.60 million. Shares recently traded at $49.17, in a 52-week range of $26.03 to $59.27.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short fall to 14.27 million from the 19.77 million reported in the previous period. Shares were changing hands at $73.16, in a 52-week trading range of $57.03 to $96.17.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased ever so slightly to 18.77 million shares. The previous reading was 18.78 million. Shares traded at $49.20, in a 52-week range of $36.64 to $69.44.

Micron Technology Inc. (NASDAQ: MU) saw its short interest rise to 31.58 million shares from the previous reading of 26.91 million. Shares were trading at $45.13, in a 52-week range of $31.13 to $61.19.

And the short interest in Broadcom Inc. (NASDAQ: AVGO) increased to 5.42 million shares from the previous 4.22 million. Shares were last seen at $255.57, in a 52-week range of $155.67 to $331.58.