By Louis Navellier for InvestorPlace
NEW YORK (
) -- If you're looking to cash in on the tech boom, consider these 5 electronics company
. They aren't true penny stocks, because they trade for more than a dollar a share, but all are incredibly affordable and have offered investors breakout growth recently.
Here are my five penny stocks to buy this week:
develops and manufactures optoelectronic devices and systems. That's a fancy way of saying it makes parts for an array of devices that deal with light and UV waves, from liquid crystal displays to lasers to solar cells. API is a supplier, and mainly works with global manufacturers from various industries instead of creating complete devices on its own. Over the past 12 months, API stock has jumped 119%, compared with a gain of 10% for the
Dow Jones Industrial Average
. Impressively, this penny stock is up 60% over the past three months alone. Another important statistic worth noting is API's quarterly revenue, which is up 29% year over year. API trades near its 52-week high with a range of 41 cents to $2.18, so now may be a time to buy before another leg up.
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Based in California,
designs, develops and sells sound technologies and products. LRAD is known by many as American Technology Company, which is its former name. Since last January, LRAD stock has climbed 74%, compared to smaller gains by the broader markets. After slipping slightly in late September, LRAD stock is up 45% over the past three months. LRAD is also just off its 52-week high of $3.10. Buy this stock now.
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is a designer, developer and manufacturer of wireless connectivity products. RFMI has posted large gains over the past 12 months, and in that time the penny stock is up 76%. More recently, RFMI has gained 69% over the past two weeks. Likewise, RFMI posted a quarterly revenue growth of 14%, year over year, in its last income statement. Lastly, RFMI is a penny stock worth buying, because it is currently trading very close to its 52-week high.
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