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.
For an interactive version of this chart, click on the image below.
Tool provided by Kapitall.
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. Motorola Solutions, Inc. (MSI): Provides business and mission critical communication products and services for enterprise and government customers worldwide. Market cap at $13.72B. Price at $46.78. Net institutional sales in the current quarter at 32.1M shares, which represents about 12.28% of the company's float of 261.42M shares.
2. 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 $10.61B. Price at $25.57. Net institutional sales in the current quarter at 26.7M shares, which represents about 7.15% of the company's float of 373.39M shares.
3. Telefonica Brasil, S.A. (VIV): Market cap at $28.42B. Price at $25.11. Net institutional sales in the current quarter at 20.7M shares, which represents about 7.06% of the company's float of 293.16M shares.
4. Chunghwa Telecom Co. Ltd. (CHT): Provides integrated telecommunications services primarily in Taiwan. Market cap at $30.83B. Price at $31.89. Net institutional sales in the current quarter at 13.5M shares, which represents about 6.99% of the company's float of 193.04M 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.