Investing.com - RBC released data on short interest in semiconductor stocks as of September 30, showing aggregate short interest increased 1% in late September compared to early September.
Short interest stands 15% above the trailing three-year average and 4% above the trailing one-year average. The data covers 34 companies in RBC’s semiconductor sample.
Half of the companies saw short interest increase while the other half experienced decreases. Lattice Semiconductor saw the largest increase at 33%, followed by Analog Devices at 15%, Entegris at 9%, Allegro MicroSystems at 9%, IPG Photonics at 8%, and Synaptics at 7%.
The biggest short interest decreases were Marvell Technology at negative 23%, Skyworks Solutions at negative 15%, SanDisk at negative 14%, GlobalFoundries at negative 10%, Qorvo at negative 9%, and Qualcomm at negative 8%.
In absolute terms, Skyworks Solutions tops the list with a 19% short interest ratio, followed by IPG Photonics at 14%, Novanta at 14%, Power Integrations at 10%, Allegro MicroSystems at 9%, and Silicon Laboratories at 8%. Novanta leads in days to cover at 12 days, followed by Silicon Laboratories at 9 days and IPG Photonics at 9 days. The elevated short interest in Novanta comes as the stock trades at $141.28 with a P/E ratio of 90.4, though InvestingPro data suggests the stock remains undervalued relative to its Fair Value. According to InvestingPro Tips, the stock has taken a big hit over the last week with an 8.67% decline, yet analysts expect net income to grow this year for the $5.39 billion market cap company.
In other recent news, Novanta reported second-quarter 2026 earnings that surpassed expectations. The company announced adjusted earnings of $0.89 per share, exceeding Wall Street’s estimate of $0.86. Revenue also outperformed forecasts, reaching $265.8 million compared to the anticipated $262.28 million. Novanta highlighted a 9% increase in organic sales and a 16% rise in adjusted EBITDA from the previous year. These results led the company to lift its outlook for the future. In related developments, there were no mergers or acquisitions reported. Analyst firms have not issued any upgrades or downgrades for Novanta following these results. These developments indicate a positive trajectory for Novanta’s financial performance.
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