Major Semiconductors See a Rising Tide in Short Interest
The May 29 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks increased.
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 couple months 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 May 29 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks increased.
Intel Corp. (NASDAQ: INTC | INTC Price Prediction) saw its short interest rise to 38.64 million shares. The previous level was 37.80 million. Its shares were trading at $63.04 Wednesday morning, in a 52-week range of $43.20 to $69.29.
The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 55.19 million from the previous reading of 61.73 million. Shares recently traded at $56.39, in a 52-week range of $27.43 to $59.27.
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Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short rise to 17.34 million from the 14.70 million reported in the previous period. Shares were changing hands at $89.75, in a 52-week trading range of $58.00 to $96.17.
Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 23.60 million shares. The previous reading was 21.92 million. Shares traded at $59.79, in a 52-week range of $36.64 to $69.44.
Micron Technology Inc. (NASDAQ: MU) saw its short interest drop to 34.91 million shares from the previous reading of 35.78 million. Shares were trading at $53.15, in a 52-week range of $31.13 to $61.19.
And the short interest in Broadcom Inc. (NASDAQ: AVGO) increased to 5.34 million shares from the previous 5.30 million. Shares were last seen at $315.32, in a 52-week range of $155.67 to $331.58.
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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.
