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When considering stocks, it's always helpful to gauge what the rest of the market thinks. One source for that is the number of shares shorted. Companies seeing significant increases in shares shorted are being viewed more negatively, and vice-versa.

We ran a screen on the semiconductor sector for stocks seeing the most significant decreases in shares shorted month-over-month. This indicates that short sellers are less bearish on these names than they were before.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks will outperform too? Use this list as a starting point for your own analysis.

1. Advanced Micro Devices, Inc. (NYSE:AMD): Operates as a semiconductor company in the United States, Japan, China, and Europe. Market cap at $1.94B, most recent closing price at $2.73. Shares shorted have decreased from 105.62M to 99.53M over the last month, a decrease which represents about 1.23% of the company's float of 496.26M shares. Days to cover ratio at 3.71 days.

2. Cavium, Inc. (NASDAQ:CAVM): Designs, develops, and markets semiconductor processors for intelligent and secure networks. Market cap at $1.58B, most recent closing price at $31.47. Shares shorted have decreased from 6.85M to 6.26M over the last month, a decrease which represents about 1.21% of the company's float of 48.69M shares. Days to cover ratio at 6.32 days.

3. Daqo New Energy Corp. (NYSE:DQ): Together with its subsidiaries, manufactures and sells polysilicon in China. Market cap at $501.97M, most recent closing price at $14.79. Shares shorted have decreased from 397.58K to 80.96K over the last month, a decrease which represents about 12.13% of the company's float of 2.61M shares. Days to cover ratio at 2.7 days.

4. Diodes Incorporated (NASDAQ:DIOD): Makes and distribute standard semiconductor products to manufacturers in the consumer electronic, computer, communications, industrial, and automotive markets. Market cap at $877.87M, most recent closing price at $19.08. Shares shorted have decreased from 2.05M to 1.65M over the last month, a decrease which represents about 1.14% of the company's float of 35.10M shares. Days to cover ratio at 6.67 days.

5. Hittite Microwave Corporation (NASDAQ:HITT): Designs and develops integrated circuits, modules, and subsystems for technically demanding radio-frequency, microwave, and millimeter-wave applications. Market cap at $1.93B, most recent closing price at $61.19. Shares shorted have decreased from 1.54M to 1.24M over the last month, a decrease which represents about 1.01% of the company's float of 29.79M shares. Days to cover ratio at 9.61 days.

6. MEMC Electronic Materials Inc. (WFR): Engages in the development, manufacture, and sale of silicon wafers for the semiconductor industry worldwide. Market cap at $942.28M, most recent closing price at $4.08. Shares shorted have decreased from 21.52M to 17.94M over the last month, a decrease which represents about 1.83% of the company's float of 195.47M shares. Days to cover ratio at 3.71 days.

7. First Solar, Inc. (NASDAQ:FSLR): Manufactures and sells solar modules using a thin-film semiconductor technology. Market cap at $2.71B, most recent closing price at $31.15. Shares shorted have decreased from 24.64M to 22.25M over the last month, a decrease which represents about 3.97% of the company's float of 60.22M shares. Days to cover ratio at 5.19 days.

8. GT Advanced Technologies Inc. (GTAT): Provides polysilicon production technology and multicrystalline ingot growth systems, and related photovoltaic (PV) manufacturing services for the solar industry worldwide. Market cap at $383.21M, most recent closing price at $3.22. Shares shorted have decreased from 38.05M to 35.72M over the last month, a decrease which represents about 1.98% of the company's float of 117.84M shares. Days to cover ratio at 9.58 days.

Short data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: Short Sellers Think These 8 Semiconductor Stocks Are Ready For A Rebound