By Louis Navellier for InvestorPlaceNEW YORK ( 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 PhotonixAdvanced Photonix ( API) 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.
LRADBased in California, LRAD ( LRAD) 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.
RF MonolithicsRF Monolithics ( RFMI) 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.
Pinnacle Data SystemsHeadquartered in Ohio, Pinnacle Data Systems ( PNS) 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.
EltekBased in Israel, Eltek ( ELTK) 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 SystemsRAE Systems ( RAE) 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. >To see these stocks in action, visit the 6 Electronics Penny Stocks portfolio on Stockpickr. >To contact the staff member responsible for this article, click here: Ross Snel. >To follow the writer on Twitter, go to http://twitter.com/navellier. >To submit a news tip, send an email to: firstname.lastname@example.org.
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