Seeking Alpha
Value, growth, long-term horizon, medium-term horizon
Profile| Send Message|
( followers)  

Interested in adding some growth to your portfolio? For a closer look at a few interesting stocks from the tech sector, we ran a screen.

We began by screening the tech sector for stocks that appear undervalued relative to earnings growth, with PEG below 1.

We then screened for those with bullish sentiment from institutional investors as well, 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.

(click to enlarge)

Do you think these stocks will outperform like the smart money expects? 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. OYO Geospace Corp. (OYOG): Engages in designing and manufacturing instruments and equipment used in the acquisition and processing of seismic data; and in the characterization and monitoring of producing oil and gas reservoirs. Market cap at $613.3M, most recent closing price at $98.42. PEG at 0.51. Net institutional purchases in the current quarter at 1.4M shares, which represents about 22.99% of the company's float of 6.09M shares.

2. IPG Photonics Corporation (NASDAQ:IPGP): Manufactures fiber lasers and amplifiers for use in a range of markets, such as materials processing, advanced technologies, telecommunications, and medical applications. Market cap at $2.18B, most recent closing price at $43.64. PEG at 0.69. Net institutional purchases in the current quarter at 5.4M shares, which represents about 13.25% of the company's float of 40.76M shares.

3. Mentor Graphics Corp. (NASDAQ:MENT): Supplies electronic design automation systems used to automate the design, analysis, and testing of electronic hardware and embedded systems software in electronic systems and components worldwide. Market cap at $1.45B, most recent closing price at $13.57. PEG at 0.86. Net institutional purchases in the current quarter at 6.5M shares, which represents about 6.99% of the company's float of 92.95M shares.

4. InfoSpace, Inc. (INSP): Develops search tools and technologies that assist consumers with finding content and information on the Internet. Market cap at $505.58M, most recent closing price at $12.64. PEG at 0.63. Net institutional purchases in the current quarter at 2.4M shares, which represents about 6.75% of the company's float of 35.57M shares.

5. VimpelCom Ltd. (NASDAQ: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 $9.52B, most recent closing price at $8.07. PEG at 0.9. Net institutional purchases in the current quarter at 13.1M shares, which represents about 6.02% of the company's float of 217.43M shares.

6. Atmel Corporation (NASDAQ:ATML): Designs, develops, manufactures, and markets a range of semiconductor integrated circuit products. Market cap at $3.24B, most recent closing price at $7.37. PEG at 0.47. Net institutional purchases in the current quarter at 22.6M shares, which represents about 5.29% of the company's float of 426.82M shares.

7. Datalink Corp. (NASDAQ:DTLK): Engages in the design, installation, and support of data center solutions to mid and large-size companies. Market cap at $181.22M, most recent closing price at $10.09. PEG at 0.74. Net institutional purchases in the current quarter at 785.4K shares, which represents about 5.12% of the company's float of 15.35M shares.

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

Source: 7 Undervalued Tech Stocks Being Snapped Up By Hedge Funds