Are you an active investor in the tech sector? If so, here's a list you may be interested in.
We began by screening the tech sector for large-cap stocks, those with market caps above $10 billion.
We then screened for those with bearish sentiment from institutional investors, with significant net institutional sales 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 underperform in the future.
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 deserve this negative sentiment? Use this list as a starting point for your own analysis.
List sorted by net institutional sales as a percent of share float.
1. VimpelCom Ltd. (VIP): Operates as an integrated telecommunications services provider, offering voice and data services through a range of wireless, fixed, and broadband technologies. Market cap at $14B, most recent closing price at $10.75. Net institutional sales in the current quarter at -23.9M shares, which represents about 13.27% of the company's float of 180.05M shares.
2. CA Technologies (CA): Designs, develops, markets, delivers, licenses, and supports information technology (IT) management software products that operate on a range of hardware platforms and operating systems. Market cap at $10.07B, most recent closing price at $21.93. Net institutional sales in the current quarter at -19.4M shares, which represents about 5.84% of the company's float of 332.41M shares.
3. Seagate Technology PLC (STX): Designs, manufactures, markets, and sells hard disk drives for the enterprise, client compute, and client non-compute market applications in the United States and internationally. Market cap at $11.4B, most recent closing price at $30.21. Net institutional sales in the current quarter at -17.7M shares, which represents about 5.39% of the company's float of 328.31M shares.
*Institutional data sourced from Fidelity, all other data sourced from Finviz.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.