It has been the year of technology stocks in 2010, with
the tech-heavy Nasdaq up over +17% compared with about +11% gains
for the S&P 500. On top of those gains, there have also
been a host of high tech buyouts, from the
) buyouts of
) and Palm Inc. to
But there are many reasons to expect that 2011 will be even
brighter for tech stocks - particularly well-run penny stocks in
the technology sector. That's because these small, agile companies
can really take advantage of a strategic niche, a new technology or
an overall updraft in the economy in ways big blue chips
If you're looking to add some low-priced, high-tech stocks to
your holdings for the new year, consider these 7 top penny stocks
to buy now:
Powerwave Technologies Inc. (
Powerwave Technologies Inc.
) is a global company that provides end-to-end wireless solutions
for wireless communications networks. Its products are used in
wireless networks globally. Since January, this penny stock has
gained an impressive +100%, compared to gains of +17% and +11.1%
for the NASDAQ and Dow Jones, respectively. Importantly, PWAV has
outpaced earnings estimates for two consecutive quarters.
Tower Semiconductor Ltd. (
Independent specialty foundry
Tower Semiconductor Ltd.
) is dedicated to the manufacture of semiconductors. Year-to-date,
TSEM has jumped +43%, compared to much smaller gains by the broader
markets. In its last income statement, Tower reported a quarterly
revenue growth of +69%, year-over-year. Currently Tower
trades at $1.29, with a 52-week range of $0.93 to $1.87. Consider
buying this inexpensive stock now while it's still at the low end
of its range and approaches new highs.
ChipMOS Technologies (
) engages in a number of testing services, such as engineering
testing, wafer probing and final testing of memory and
logic/mixed-signal semiconductors. Since January, the penny stock
has doubled - and in the short term IMOS stock is up +16.4% over
the past three months. It is also important to note that ChipMOS
reported a quarterly revenue growth of +41%, year-over-year, in its
last income statement.
RAE Systems Inc. (
RAE Systems Inc.
) produces rapidly-deployable, multi-sensor chemical and radiation
detection monitors and wireless networks. Its products are used in
the following industries: oil and gas, hazardous material
management, industrial safety, civil defense and environmental
remediation. Year-to-date, RAE has gained almost +50%, compared to
smaller gains by the broader markets. Most of RAE's gains occurred
in mid-September, when the stock skyrocketed more than +44% in one
week! Additionally, RAE has outperformed earnings estimates for the
past three quarters, making it an attractive buy.
Find out the 10 FREE stock picks that make up
10 Best Stocks for 2011.
Glu Mobile Inc. (
Glu Mobile Inc.
) designs, markets and sells games for mobile phones. Some of its
Call of Duty, Deer Hunter, Diner Dash
Guitar Hero 5
, among others. Since January, this penny stock has nearly doubled.
Also impressive is that GLUU has jumped +51% over the past three
months. GLUU has also outperformed earnings estimates for three
consecutive quarters, which has stockholders thrilled.
WidePoint Corp. (WYY)
) provides technology based products to the government and
commercial sector. The company comprises three segments: Wireless
Mobility Management, Cybersecurity Solutions and Consulting
Services. Year-to-date, this penny stock has posted impressive
gains of +80%. Also, WYY stock has climbed +20% over the past three
months. Additionally, WidePoint has met earnings estimates for two
straight quarters, and recently posted a net profit margin of +8.1%
in its last income statement.
NetSol Technologies Inc. (NTWK)
Netsol Technologies Inc.
) is a designer, developer, marketer and exporter of software
products to customers in the automobile finance and leasing,
banking, healthcare, and financial services industries. Since
January, this penny stock is up +78%, compared to smaller gains by
the broader markets. More recently, NTWK is up +15% over the past
three months. Earnings wise, NTWK has met or exceeded estimates
three of the last four quarters.
As of this writing, Louis Navellier did not own a position in
any of the stocks named here.