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.
Considering its earnings season, we would also like to mention that SK Telecom, reports earnings on January 25th, 2013, and Seagate Technology reports earnings on January 28th, 2013. This might be helpful for those investors who like to take advantage of the possible stock volatility created around earnings announcements.
1. SK Telecom Co. Ltd. (NYSE:SKM): Provides wireless telecommunications services using code division multiple access (OTCPK:CDMA) and wide-band CDMA technologies. Market cap at $12.36B, most recent closing price at $17.01. Net institutional sales in the current quarter at -22.5M shares, which represents about 9.31% of the company's float of 241.72M shares. The 2 top sellers of the stock are International Value Advisors, and Tradewinds Global Investors.
2. Seagate Technology PLC (NASDAQ: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 $13.01B, most recent closing price at $34.46. Net institutional sales in the current quarter at -19.7M shares, which represents about 6% of the company's float of 328.31M shares. The 2 top sellers of the stock are Greenlight Capital, and Iridian Asset Management.
3. VimpelCom Ltd. (NYSE: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 $14.31B, most recent closing price at $10.99. 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. The 2 top sellers of the stock are Bank of New York Mellon, and Deutsche Bank AG.
*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.
Business relationship disclosure: Business relationship disclosure: Kapitall is a team of analysts. This article was written by Sabina Bhatia, one of our writers. We did not receive compensation for this article (other than from Seeking Alpha), and we have no business relationship with any company whose stock is mentioned in this article.