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Do you like to follow smart money buying trends? If so, you may be interested in a screen we ran for a look at stocks currently favored by smart money institutional investors.

We began by screening the technology industry for stocks that are rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research. Despite the enthusiasm of hedge funds, analysts only seem to be excited by KEYW and MPWR.

Do you think these stocks are poised to outperform? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases over the last quarter as a percent of share float.

1. The KEYW Holding Corporation (KEYW): Provides mission-critical cybersecurity and cyber superiority solutions to defense, intelligence, and national security agencies in the United States. Market cap at $446.57M, most recent closing price at $12.86. Net institutional purchases in the current quarter at 7.0M shares, which represents about 21.7% of the company's float of 32.26M shares. The stock is currently trading 1% above its 20-day moving average, 0.73% above its 50-day moving average, and 25.34% above its 200-day moving average.

2. Monolithic Power Systems Inc. (MPWR): Designs, develops, manufactures, and markets analog and mixed-signal semiconductors. Market cap at $749.34M, most recent closing price at $21.16. Net institutional purchases in the current quarter at 3.2M shares, which represents about 10.2% of the company's float of 31.36M shares. The stock is currently trading 8.4% above its 20-day moving average, 9.83% above its 50-day moving average, and 8.1% above its 200-day moving average.

3. OpenTable, Inc. (OPEN): Provides restaurant reservation solutions in the United States, Canada, Mexico, Europe, and Asia. Market cap at $1.02B, most recent closing price at $44.89. Net institutional purchases in the current quarter at 1.8M shares, which represents about 9.27% of the company's float of 19.42M shares. The stock is currently trading 0.58% above its 20-day moving average, 0.41% above its 50-day moving average, and 5.66% above its 200-day moving average.

4. Clearwire Corporation (CLWR): Provides wireless broadband services. Market cap at $3.24B, most recent closing price at $2.32. Net institutional purchases in the current quarter at 45.7M shares, which represents about 9.31% of the company's float of 490.71M shares. The stock is currently trading 6.23% above its 20-day moving average, 22.65% above its 50-day moving average, and 38.74% above its 200-day moving average.

5. First Solar, Inc. (FSLR): Manufactures and sells solar modules using a thin-film semiconductor technology. Market cap at $2.35B, most recent closing price at $26.99. Net institutional purchases in the current quarter at 4.9M shares, which represents about 8.36% of the company's float of 58.62M shares. The stock is currently trading 10% above its 20-day moving average, 15.66% above its 50-day moving average, and 27.09% above its 200-day moving average.

6. Kimball International, Inc. (KBALB): Manufactures and sells electronic assemblies and furniture in the United States and internationally. Market cap at $478.28M, most recent closing price at $12.48. Net institutional purchases in the current quarter at 2.4M shares, which represents about 8.36% of the company's float of 28.70M shares. The stock is currently trading 1% above its 20-day moving average, 1.32% above its 50-day moving average, and 37% above its 200-day moving average.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 6 Rallying Technology Stocks Being Snapped Up By Hedge Funds