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Interested in the high-growth prospects of the wireless industry? We ran a screen with this idea in mind.

We screened the wireless communications industry for stocks with bullish sentiment from institutional investors, 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 in the future.

For an ‪interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.‬

(click to enlarge)

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Do you think hedge funds are calling it right on these names? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. 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 $11.68B, most recent closing price at $8.93. Net institutional purchases in the current quarter at 15.8M shares, which represents about 7.27% of the company's float of 217.43M shares.

2. NII Holdings Inc. (NASDAQ:NIHD): Provides wireless communication services to businesses and individuals primarily in Mexico, Brazil, Argentina, Peru, and Chile. Market cap at $1.05B, most recent closing price at $6.04. Net institutional purchases in the current quarter at 11.1M shares, which represents about 7.01% of the company's float of 158.28M shares.

3. TELUS Corporation (NYSE:TU): Provides telecommunications products and services primarily in Canada. Market cap at $20.51B, most recent closing price at $63.26. Net institutional purchases in the current quarter at 16.0M shares, which represents about 5.67% of the company's float of 281.97M shares.

4. Telular Corp. (NASDAQ:WRLS): Designs, develops, and distributes products and services that utilize wireless networks to provide data and voice connectivity among people and machines primarily in the United States and internationally. Market cap at $154.86M, most recent closing price at $9.38. Net institutional purchases in the current quarter at 742.6K shares, which represents about 5.11% of the company's float of 14.54M shares.

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

Source: 4 Wireless Communications Stocks Being Bought Up By Hedge Funds