Chip Stocks: Shorts Losing Interest in the Sector (INTC, AMD, QCOM, ARMH, MU, SNDK, BRCM, MRVL, NVDA, TXN, AMAT, SMH)

Chip photo
Chip photo

We have tracked the key short interest changes as of February 28 in the following semiconductor leaders: Intel Corp. (NASDAQ: INTC), Advanced Micro Devices Inc. (NYSE: AMD), Micron Technology Inc. (NASDAQ: MU), SanDisk Corp. (NASDAQ: SNDK), Qualcomm Inc. (NASDAQ: QCOM), ARM Holdings PLC (NASDAQ: ARMH), Broadcom Corp. (NASDAQ: BRCM), Marvell Technology Group Ltd. (NASDAQ: MRVL), Nvidia Corp. (NASDAQ: NVDA), Texas Instruments Inc. (NASDAQ: TXN) and Applied Materials Inc. (NASDAQ: AMAT). We also chose to look at how the Market Vectors Semiconductor ETF (NYSEMKT: SMH) has held up.

Intel Corp. (NASDAQ: INTC) short interest rose 3.8% to 216.01 million shares. About 4.4% of Intel's float is now short.

Advanced Micro Devices Inc. (NYSE: AMD) saw short interest drop by 0.8% to 85.74 million shares, or 14.2% of the company's total float.

Qualcomm Inc. (NASDAQ: QCOM) short interest fell 7.8% to 14 million shares, which represents 0.8% of the company's float.

ARM Holdings PLC (NASDAQ: ARMH) saw a 19.3% drop in short interest to 5.33 million shares, which represents about 1.2% of the firm's float.

Micron Technology Inc. (NASDAQ: MU) showed a rise of 10.7% in short interest, to 73.23 million shares, or about 7.2% of Micron's float.

SanDisk Corp. (NASDAQ: SNDK) saw short interest rise by 5.8% to 7.09 million shares, or 2.9% of the company's float.

Short interest in Broadcom Corp. (NASDAQ: BRCM) increased 29.3% to 8.26 million shares. That is 1.6% of the total float.

Marvell Technology Group Ltd. (NASDAQ: MRVL) posted a 12.1% drop in short interest, to 6.17 million shares, or about 1.4% of Marvell's float.

Nvidia Corp. (NASDAQ: NVDA) short interest fell by 13.3% to 16.53 million shares, about 2.8% of the company's float.

Texas Instruments Inc. (NASDAQ: TXN) saw short interest retreat 1.8% to 26.36 million shares, or 2.4% of the float.

Applied Materials Inc. (NASDAQ: AMAT) short interest dropped by 19% to 17.15 million shares, which is about 1.4% of the company's float.

The Market Vectors Semiconductor ETF (NYSEMKT: SMH) showed a rise of 13.7% in short interest to 6.32 million shares.

With just a couple of exceptions, short interest fell in chip stocks during the two-week period ending February 28. Good earnings from chip makers in the mobile business cooled off shorts. The bets against Intel and the Market Vectors Semiconductor ETF rose, likely as a hedge against betting the wrong way on ARMH and the others.

Filed under: 24/7 Wall St. Wire, Semiconductor, Semiconductors, Short Interest, Technology, Technology Companies Tagged: AMAT, AMD, ARMH, BRCM, INTC, MRVL, MU, NVDA, QCOM, SMH, SNDK, TXN