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The following is a list of tech stocks that have seen significant institutional selling over the last three months.

To give more perspective on investor sentiment, we'll also include data on short float and performance.

Is this excessive pessimism justified? If you're a contrarian, these trends might raise a flag. Full analysis below.

Institutional data sourced from Reuters, short float data sourced from Finviz.


1. STMicroelectronics NV (NYSE:STM): Semiconductor Industry. Market cap of $9.09B. Institutional investors currently own 32,320,877 vs. 39,586,413 shares held three months ago (-18.35% change). Short float at 0.86%, which implies a short ratio of 3.44 days. The stock has gained 23.03% over the last year.

2. Semiconductor Manufacturing International Corp. (NYSE:SMI): Semiconductor Industry. Market cap of $1.91B. Institutional investors currently own 39,595,647 vs. 45,052,287 shares held three months ago (-12.11% change). Short float at 0.12%, which implies a short ratio of 1.32 days. The stock has gained 20.06% over the last year.

3. Portugal Telecom SGPS SA (NYSE:PT): Wireless Communications Industry. Market cap of $11.47B. Institutional investors currently own 22,821,560 vs. 25,948,236 shares held three months ago (-12.05% change). Short float at 0.07%, which implies a short ratio of 2.5 days. The stock has gained 20.18% over the last year.

4. Research In Motion Limited (RIMM): Diversified Communication Services Industry. Market cap of $30.67B. Institutional investors currently own 315,598,347 vs. 358,363,763 shares held three months ago (-11.93% change). Short float at 6.81%, which implies a short ratio of 2 days. The stock has lost -16.46% over the last year.

5. Neutral Tandem, Inc. (NASDAQ:TNDM): Wireless Communications Industry. Market cap of $487.53M. Institutional investors currently own 27,632,250 vs. 30,391,466 shares held three months ago (-9.08% change). Short float at 7.84%, which implies a short ratio of 5.79 days. The stock has lost -29.47% over the last year.

6. McAfee, Inc. (MFE): Security Software & Services Industry. Market cap of $7.1B. Institutional investors currently own 132,275,044 vs. 144,070,224 shares held three months ago (-8.19% change). Short float at 1.65%, which implies a short ratio of 0.97 days. The stock has gained 18.17% over the last year.

7. Systemax Inc. (NYSE:SYX): Technical & System Software Industry. Market cap of $468.04M. Institutional investors currently own 8,478,743 vs. 9,205,205 shares held three months ago (-7.89% change). Short float at 5.63%, which implies a short ratio of 12.9 days. The stock has lost -18.57% over the last year.

8. Telefonos de Mexico, S.A.B. de C.V. (NYSE:TMX): Long Distance Carriers Industry. Market cap of $14.36B. Institutional investors currently own 94,805,656 vs. 102,647,161 shares held three months ago (-7.64% change). Short float at 4.08%, which implies a short ratio of 10.31 days. The stock has lost -1.8% over the last year.

9. Echelon Corporation (NASDAQ:ELON): Networking & Communication Devices Industry. Market cap of $440.99M. Institutional investors currently own 14,137,569 vs. 15,161,154 shares held three months ago (-6.75% change). Short float at 7.99%, which implies a short ratio of 14.11 days. The stock has lost -7.14% over the last year.

10. Take-Two Interactive Software Inc. (NASDAQ:TTWO): Multimedia & Graphics Software Industry. Market cap of $1.09B. Institutional investors currently own 82,893,994 vs. 88,719,512 shares held three months ago (-6.57% change). Short float at 12.35%, which implies a short ratio of 6.22 days. The stock has gained 42.62% over the last year.

Source: Tech Stocks Being Dumped by the Smart Money