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Barclays’ (BCS) Top Tech Picks

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In its recent America’s Top Picks List, Barclays PLC (ADR) (NYSE:BCS) ranked Oracle Corporation (NYSE:ORCL), Cavium Inc (NASDAQ:CAVM), and Corning Incorporated (NYSE:GLW) as some of its top technology stock picks. In this article we’ll look at these three companies and the latest developments surrounding them, as well as gauge the level of interest in them from the smart money, beginning with Oracle.

Oracle ORCL

Ken Wolter/

Why are we interested in the 13F filings of a select group of hedge funds? We use these filings to determine the top 15 small-cap stocks held by these elite funds based on 16 years of research that showed their top small-cap picks are much more profitable than both their large-cap stocks and the broader market as a whole. These small-cap stocks beat the S&P 500 Total Return Index by an average of nearly one percentage point per month in our backtests, which were conducted over the period of 1999 to 2012. Moreover, since the beginning of forward testing from August 2012, the strategy worked just as our research predicted, outperforming the market every year and returning 145% over the last 34 months, which is more than 85 percentage points higher than the returns of the S&P 500 ETF (SPY) (see more details).

In its report, Barclays PLC (ADR) (NYSE:BCS) mentioned that Oracle, which is one of the biggest software companies in the World, is well-placed to capitalize on the product development and internal changes it has implemented in 2015. The analyst expects investor sentiment to improve in the upcoming months. The shares of the enterprise tech giant were down 1.41% on Monday after dismal fourth quarter fiscal 2015 financial results were released by Oracle Corporation Japan. Oracle Japan reported a 4% decline in its operating margin along with a 35% drop in its hardware product sales, and a 3% drop in its service revenues. It is important to note that Oracle Corporation (NYSE:ORCL)’s most recent quarterly earnings missed market expectations of $0.82 by $0.08. Barclays has a price target of $48 on Oracle indicating an upside of 18.90% from its current share price. The hedge funds tracked at Insider Monkey had a bearish take on Oracle Corporation heading into the second quarter, with 59 hedge fund managers having $8.71 billion invested in the company as of March, against the $9.31 billion in holdings held by 62 hedge fund managers at the end of 2014. Boykin Curry’s Eagle Capital Management is among the largest shareholders of Oracle Corporation (NYSE:ORCL), with his investment position as of March 31 including 44.72 million shares valued at $1.93 billion. Safra Catz, Chief Executive Officer of Oracle Corp, made the biggest insider sale in the past six months, by selling 3.75 million shares on March 27.

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