By Louis Navellier for InvestorPlace



) -- If you're looking to cash in on the tech boom, consider these 5 electronics company

penny stocks

. 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:

Advanced Photonix

Advanced Photonix


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.

Related Article: 5 Hot Consumer Stocks to Buy


Based in California,


(LRAD) - Get Report

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.

Related Article: 5 Bargain Stocks for Less Than $5

RF Monolithics

RF Monolithics


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.

Related Article: 8 Dividend Picks Likely to Raise Yields Soon

Pinnacle Data Systems

Headquartered in Ohio,

Pinnacle Data Systems


TheStreet Recommends

provides services and products to original equipment manufacturers in the computer industry. The company deals with clients across the globe. Over the past 52-weeks PNS has posted enormous gains of 175%, compared with much smaller gains by the broader markets. Over the past three months, the penny stock is up 13% as well. Importantly, PNS is trading at more than three times its 52-week low of 42 cents, and looks poised for further growth.

Related Article: 10 Best Stocks for 2011


Based in Israel,


(ELTK) - Get Report

is a manufacturer and supplier of custom circuitry used in electronic products. ELTK stock had faltered in the middle of 2010 but has regained nicely and is up 32% over the past three months. Importantly, 11% of those gains have occurred in the last month. ELTK may not have posted the same types of gains as other penny stocks on this list, but with a 52-week range of 84 cents to $1.82, ELTK has the potential to bring big gains to your portfolio. It is not far off its 52-week high.

RAE Systems

RAE Systems


develops and manufactures chemical and radiation detection monitors, and rounds out my list of top electronics penny stocks to buy this week. Its products are used in the following industries: oil and gas, hazardous material management, industrial safety, civil defense and environmental remediation. Since the beginning of August, this penny stock has skyrocketed 121%. It is also important to note that RAE posted a quarterly revenue growth of 25% in its last income statement. Buy RAE stock now as it approaches its 52-week high.

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

--Written by Louis Navellier.

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One of Wall Street's renowned growth investors, Louis Navellier is the editor of four investing newsletters: Emerging Growth (formerly known as MPT Review), Blue Chip Growth, Quantum Growth and Global Growth. His longest-running publication, Emerging Growth, has a track record of beating the market nearly 3 to 1. Navellier is the author of a BusinessWeek bestseller, "The Little Book That Makes You Rich," and the chairman and founder of Navellier & Associates, Inc.