S&P 500 & Nasdaq Analysis and Trends

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Short Sellers Back Off Major Semiconductors
By: 24/7 Wall St. | October 25, 2018

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 October 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 decrease to 68.12 million shares. The previous level was 72.18 million. Intel shares were last seen trading at $42.42, in a 52-week range of $40.71 to $57.60.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 121.63 million from the previous reading of 134.12 million. Shares recently traded at $22.79, in a 52-week range of $9.04 to $34.14.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short fall to 107.92 million from the 127.03 million reported in the previous period. Shares were changing hands at $62.62, in a 52-week trading range of $48.56 to $76.50.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) fell slightly to 16.02 million shares. The previous reading was 16.23 million. Shares were trading at $31.81, in a 52-week range of $31.78 to $62.40.

Micron Technology Inc. (NASDAQ: MU) saw its short interest increase to 57.50 million shares from the previous reading of 51.87 million. Shares were trading at $35.43, in a 52-week range of $35.40 to $64.66.

And the short interest in Broadcom Ltd. (NASDAQ: AVGO) decreased to 10.09 million shares from the previous 10.28 million. Shares were last seen at $218.71, in a 52-week range of $197.46 to $285.68.

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