QCOM, ATML, OVTI See Shorts Covering, NVMI, ALTR, NANO See Increase Over Last Two Weeks - Cowen

Cowen and Company is offering an update on short-interest levels in the semiconductor segment over the past two weeks.

Semiconductors & Semiconductor Capital Equipment

Relative: SI down 4.9% in the 2wk period and up 5.5% and up 5.6% versus 30day and 90day respectively. In the 2wk period, the five stocks with largest increase were NVMI, ALTR, NANO, MXIM and SWKS while the five stocks with largest short covering were ATML, KLIC, OVTI, QCOM and PMCS.

Absolute: As a % of float, the five stocks with the largest absolute SI: VECO, RFMD, AMD, UTEK and CRUS while the five stocks with least SI: IMOS, NVMI, KLIC, QCOM and AVGO.

Hardware Ex-Semi

Relative: SI down 8.6% in the 2wk period and down 6.8% and down 3.7% versus 0day and 90day respectively. In the 2wk period, the five stocks with largest increase were AME, FLEX, INVE, TRMB and SCSC while the five stocks with largest short covering were IM, TEL, JBL, AVT and AAPL.

Absolute: As a % of float, the five stocks with the largest absolute SI: BBRY, LXK, GRMN, VSH and SNX while the five stocks with least SI: NOK, TEL, IDSY, IM and XRX.

Technology Licensing & Business Services

Relative: SI up 1.6% in the 2wk period and down 1.3% and down 0.9% versus 30day and 90day respectively. In the 2wk period, the five stocks with largest increase were DST, ADP, SAPE, TSS and EEFT while the five stocks with largest short covering were CTSH, EPAM, MGI, VRTU and JKHY.

Absolute: As a % of float, the five stocks with the largest absolute SI: VHC, FNGN, ACTG, WU and HPY while the five stocks with least SI: WIT, DOX, DST, CTSH and JKHY.

Overall TMT

Relative: Short interest (SI) for the 381 companies we track across TMT down 2.1% in the 2wk period. On a sector basis in the 2wk period, short covering was greatest in Hardware, Semi/Semicap and Clean Tech while new shorts increased most in Internet, Tech Licensing & Biz Services and Gaming/Media.

Absolute: As a % of float, Clean Tech (10.1% of float), Digital Media (9.1% of float) and Internet (8.5% of float) continue to have the largest SI (the case for past 6mos), while Hardware (5.1% of float), Tech Licensing & Biz Services (5.3% of float) and Semi/Semicap (5.5% of float) have the smallest SI.

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