According to Trivariate Research’s Adam Parker, it’s time to sell stocks that are seeing inventory build up at the same time that consumer demand is slowing. Inventory levels are becoming a key indicator of stock performance as companies continue to grapple with global supply chain challenges exacerbated by the pandemic, a report from Trivariate Research said. “Inventory levels are a growing concern: For large-cap stocks, the amount of inventory available for sale is near historic highs,” wrote Parker, who was previously chief U.S. equity strategist at Morgan Stanley. “As production catches up with consumption, we are now seeing some earnings reports where strong demand will be needed to burn off rising inventories,” he added. Rising inventories are weighing on industrial stocks, including auto parts, home goods and certain technology products, Trivariate reports. Meanwhile, sectors where the firm is not concerned about inventory levels are energy, metallurgy and mining. Stocks that investors should sell are at risk of “surprisingly negative” revisions to future earnings, according to Trivariate. The firm identified companies with high inventories, high capital expenditures and declining earnings growth over the next year. Here are nine sales ideas from the business. Semiconductor companies have high levels of inventory to sell, but Parker said the “real issue” is that production will exceed demand later this year if the current backlog is cleared. Trivariate named Nvidia and Intel as selling ideas. Clorox consumer staples stock was also marked as a sell. Inventories of consumer goods have a level of inventory for sale that is close to an all-time high, the note said. Shares of industrials such as Stanley Black & Decker are “potentially problematic,” according to the report, as they show the highest levels of inventory-to-sales ratios since the financial crisis. Other named stocks include Nucor, Best Buy, Scotts Miracle-Gro, Quest Diagnostics and Gap. —CNBC’s Michael Bloom contributed to this report.