7 Hot Tech Penny Stocks to Buy

Penny stock investing doesn't have to be high risk. Investors who focus on lo- priced stocks can still raise the bar for their investments by insisting they be more than a fledgling start-up and that these penny stocks are listed on a major exchange. Specifically, demand that shares are trading for more than $1, that the penny stock is listed on the AMEX, NYSE or NASDAQ and that the investment has a market capitalization north of $100 million.

Given these criteria, you can uncover some great penny stocks that are very high reward but not so high risk. To show you what I mean, let me shares some of my favorite hot penny stocks to buy that fit the bill in the tech sector:

EMCORE Corp : The first penny stock worth buying is EMCORE Corp. (NASDAQ: EMKR ) which has posted a gain of +119% in the last 12 months. More recently, this semiconductor company has shown stock growth of +53% in the last three months as well. It should also be noted that EMKR posted a quarterly revenue growth of +23% in its last income statement.

Dot Hill Systems Corp : Enterprise server software company Dot Hill Systems Corp. (NASDAQ: HILL ) is a hot penny stock worth buying, as its stock has jumped +40% in the last three months. In the longer term, HILL stock has shown growth of +67% in the last 12 months, compared to gains of +14% and +13% for the NASDAQ and Dow Jones, respectively.

Identive Group Inc : Having increased +71% in the last six months and +23% in the last three months, Identive Group Inc. (NASDAQ: INVE ) is another penny stock to buy making the list. Another statistic that should be noted is INVE's quarterly revenue growth of +134% from its last income statement. INVE has a 52-week range of $1.29 to $3.55.

RAE Systems Inc : Up +106% in the last year, RAE Systems Inc. (AMEX: RAE ) is another hot stock for penny investors. This stock has the potential to grow your portfolio in a hurry, as it jumped +42% in just three days in September. In its last income statement, RAE also posted strong quarterly revenue growth of +25%. If you can take the risks of penny stock investing, RAE offers potentially high rewards.

Sify Technologies : Electronic commerce company Sify Technologies (NASDAQ: SIFY ) has watched its stock grow a remarkable +99% in the last six months alone. SIFY has also shown it can sustain that stock growth, having gained +38% since the start of 2011. Buy this stock near its 52-week high of $3.56.

Axcelis Technologies : Semiconductor stock Axcelis Technologies (NASDAQ: ACLS ) has rewarded shareholders with growth of +57% in the last six months. Potential buyers should also look to ACLS's quarterly revenue growth, which was listed as +141% in its last income statement.

Majesco Entertainment : Last on the list is video game product producer Majesco Entertainment (NASDAQ: COOL ). This penny stock has shown impressive gains of +148% in the last year, including a gain of +35% in just one day this March. If you're looking to hit it big with a penny stock purchase, COOL may be the perfect stock for your portfolio.

As of this writing, Louis Navellier did not own a position in any of the stocks named here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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