Market Cap: $211 million Industry: Communication Equipment Based in Santa Ana, Calif., Powerwave Technologies ( PWAV) is a global supplier of end-to-end wireless solutions for wireless communications networks. Powerwave designs, manufactures, markets and sells products that improve coverage, capacity and data speed in wireless communication networks. Since January, this penny stock has gained nearly 30%, and has a current stock price of $1.59. Additionally, the fact that Powerwave outperformed earnings estimates by 100% last quarter makes this stock a strong buying opportunity. As of this writing, Louis Navellier did not own a position in any of the stocks named here.