Semiconductor Stocks Have Big Day, Rebound From Last Week’s Slump

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The semiconductor industry has launched a bit of a comeback today, as most of the semiconductor companies have witnessed an increase in their share price on heavy trading volume today. The list includes major players including Intel Corporation (NASDAQ:INTC), Micron Technology, Inc. (NASDAQ:MU), and Advanced Micro Devices, Inc. (NASDAQ:AMD), which we’ll look at in this article, as well as Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), which gained just under 1% today. The shares of Intel Corporation are trading 1.33% higher at $30.59, whereas Micron Technology’s shares are up 1.46%. Advanced Micro Devices is leading the way at a 3.93% increase in its share price, to $2.52.


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Earlier today, Intel Corporation (NASDAQ:INTC) announced some upper management changes, including the departure of its president, Renee James. Further, the McAfee division of the chipmaker will work under the Intel Security organization and the leadership of Chris Young, Intel’s General Manager. While discussing these management changes, Brian Krzanich, CEO of Intel Corporation, said, “We are aligning our leadership structure to continue to become more efficient in order to deliver the benefits of our strategy even faster than before.” Smart money has been somewhat bearish towards Intel Corporation (NASDAQ:INTC) of late, as hedge funds reduced their investments marginally to $5.21 billion by the end of the first quarter, from $5.45 billion in holdings one quarter previously. Total investors with positions also dropped slightly during this time, to 61 from 62. Jean-Marie Eveillard of First Eagle Investment Management held a large position in the chipmaker of 28.84 million shares with a market value of $901.95 million. However, we need to take into account the drop of 16.81% in the shares of Intel Corporation year-to-date. The world’s largest chipmaker is suffering because of an ailing PC industry but is looking for growth opportunities in other areas. Its recent acquisition of Altera Corporation (NASDAQ:ALTR) will help the company gain exposure in multiple markets, from communications to consumer electronics.

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