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
Hewlett-Packard
(NYSE:
HPQ
) buyouts of
3Par
(NYSE:
PAR
) and Palm Inc. to
Intel
(NASDAQ:
INTC
) acquiring
McAfee
(NYSE:
MFE
).
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
cannot.
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. (
PWAV
)
Powerwave Technologies Inc.
(NASDAQ:
PWAV
) 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. (
TSEM
)
Independent specialty foundry
Tower Semiconductor Ltd.
(NASDAQ:
TSEM
) 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 (
IMOS
)
Holding company
ChipMOS Technologies
(NASDAQ:
IMOS
) 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
)
RAE Systems Inc.
(AMEX:
RAE
) 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.
Related Article:
Find out the 10 FREE stock picks that make up
InvestorPlace.com's
10 Best Stocks for 2011.
Glu Mobile Inc. (
GLUU
)
Glu Mobile Inc.
(NASDAQ:
GLUU
) designs, markets and sells games for mobile phones. Some of its
games include
Call of Duty, Deer Hunter, Diner Dash
and
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)
WidePoint Corp.
(AMEX:
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.
(NASDAQ:
NTWK
) 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.