NEW YORK ( TheStreet) -- These 10 foreign technology stocks we list here have 29%-139% upside from current levels, based on analysts' consensus estimates of price targets.

In comparison, technology giants Apple ( AAPL), Microsoft ( MSFT), Google ( GOOG), IBM ( IBM), Oracle ( ORCL), Intel ( INTC), Cisco Systems ( CSCO) and Hewlett-Packard ( HPQ) are expected to return between 4% and 25% over the next 12 months, based on consensus estimates of analysts polled by Bloomberg.

Most of these 10 stocks have favorable buy recommendations, indicating analysts' preference. Although ZST Digital Networks ( ZSTN), China TransInfo Technology ( CTFO), Telestone Technologies ( TSTC), Zoom Technologies ( ZOOM), and UTStarcom ( UTSI) have enormous upside potential, we have not included these stocks as only one or two analysts cover these stocks. Meanwhile, China Finance Online ( JRJC) and CDC ( CHINA) are not considered because of their low buy ratings.

10. Ceragon Networks ( CRNT) develops, manufactures, and markets wireless networking systems.

For 2010 fourth quarter, analysts polled by Bloomberg expect the company to report earnings of 13 cents per share, as opposed to earnings of 6 cents and 13 cents reported in the year-ago and quarter-ago periods. For the full year, analysts expect the company to report earnings per share of 42 cents for 2010, 38 cents for 2011 and 99 cents for 2012, in comparison to earnings of 10 cents per share for 2009.

The stock will likely provide an upside of 29% over the next 12 months with a consensus target price of $16.8, according to analysts polled by Bloomberg. In comparison, Aviat Networks ( AVNW), DragonWave ( DRWI) and Alvarion ( ALVR) are expected to return around 23%, 13% and 18%, respectively.

Of the 13 analysts covering the stock, 9 recommend buying and 4 suggest holding.

9. ChinaCache International Holdings ( CCIH) is a provider of internet content and application delivery services in China.

For 2010 third quarter, net revenues jumped 57.9% to RMB 109.1 million, while non-GAAP EBITDA grew 84.6% to RMB 35.1 million. For 2010 fourth quarter, the management expects net revenues to gain in the range of 67.3%-71.6% to RMB 119-122 million.

The stock will likely provide an upside of 36% over the next 12 months with a consensus target price of $30.8, according to analysts polled by Bloomberg. In comparison, Akamai Technologies ( AKAM), Computer Sciences ( CSC), Rackspace Hosting ( RAX) and Equinix ( EQIX) are expected to return around 15%, -4%, -4% and 18%, respectively.

Of the four analysts covering the stock, two recommend buying, 1 suggests holding and 1 rates selling.

8. Longtop Financial Technologies ( LFT) is a Hong Kong-based provider of software solutions and services to financial institutions in China.

The company is scheduled to release its third quarter results ended Dec.31, 2010 on Monday, Jan. 31, 2011 after the market closes. For the second quarter of fiscal 2011, the company reported losses of $1.19 per share, compared to earnings of 35 cents per share and 21 cents per share during the year-ago and quarter-ago periods.

The stock will likely provide an upside of 38% over the next 12 months with a consensus target price of $45.4, according to analysts polled by Bloomberg. On the other hand, Oracle ( ORCL), Online Resources ( ORCC) and Camelot Information Systems ( CIS) are expected to return around 7%, -4% and -23%, respectively.

Of the 12 analysts covering the stock, 9 recommend buying, 2 suggest holding and 1 rates selling.

7. O2Micro International ( OIIM) designs, develops and markets integrated circuits for power management and computer security applications.

For 2010, revenue increased 10.9% year-over-year to $137.8 million. Meanwhile, gross margin stood at 61.4% in 2010, up 1.73% from a year earlier. Commenting on the outlook, Sterling Du, Chairman and CEO, remarked in a press release, "As we enter 2011, the supply chain looks much healthier and our products are well positioned to address both core markets and new areas alike. We're looking forward to strong sales of power products and ramping up our business in new markets."

O2Micro will likely provide an upside of 38% over the next 12 months with a consensus target price of $9.5, according to analysts polled by Bloomberg. On the other hand, Texas Instruments ( TXN), Analog Devices ( ADI), Linear Technology ( LLTC), Maxim Integrated Products ( MXIM) and Microsemi ( MSCC) are expected to return around 4%, -2%, -1%, 0% and 25%, respectively.

O2Micro is currently trading at a forward price-to-earnings multiple of 15.3 and EV-to-EBITDA ratio of 6.2. Of the six analysts covering the stock, five recommend buying and one suggests holding.

6. AsiaInfo-Linkage ( ASIA) provides telecommunications software solutions and information technology security products and services in China.

Analysts polled by Bloomberg expect the company to report earnings of 23 cents per share for 2010 fourth quarter, as opposed to earnings of 22 cents reported in the quarter-ago periods. For the full year, analysts expect the company to report earnings per share of 96 cents for 2010, $1.03 for 2011 and $1.34 for 2012, a significant improvement from earnings of 77 cents per share for 2009.

The return-on-equity during the past 12 months has been 14.8%. In comparison, Amdocs ( DOX), Comverse Technology ( CMVT), Synchronoss Tech ( SNCR) and CSG System International ( CSGS) have ROEs of 10.7%, -50.8%, 9.2% and -8.1%, respectively.

Of the 15 analysts covering the stock, 12 recommend buying, 2 rate holding and 1 suggests selling. Analysts polled by Bloomberg foresee the stock gaining around 40% over the next 12 months with a consensus target price of $25.4.

5. Xyratex ( XRTX) provides enterprise-class data storage and network technology.

For the fourth quarter of fiscal 2010 ended Nov. 30, 2010, Xyratex reported earnings of $1.02 per share, compared to earnings of 5 cents per share in the year-ago period. For the full year, the company is likely to report earnings per share of $2.26 for fiscal 2011 and $2.42 for fiscal 2012.

The return-on-equity during the past 12 months has been 47.5%, surpassing competitors. EMC ( EMC), NetApp ( NTAP), SanDisk ( SNDK) and Western Digital ( WDC) have ROEs of 7.5%, 18.6%, 26.8% and 35.0%, respectively.

The stock is currently trading at an attractive forward price-to-earnings multiple of 5.5 and EV-to-EBITDA ratio of 3.1.

Of the eight analysts covering the stock, six recommend buying and two rate holding. Analysts polled by Bloomberg expect the stock to gain around 45% over the next 12 months with a consensus target price of $19.3.

4. Yucheng Technologies ( YTEC) provides information technology services and solutions to the banking sector in China.

For 2010 fourth quarter, analysts polled by Bloomberg expect the company to report earnings of 10 cents per share, as opposed to a loss of 28 cents and earnings of 8 cents reported in the year-ago and quarter-ago periods. For the full year, analysts expect the company to report earnings per share of 23 cents for 2010, 31 cents for 2011 and 42 cents for 2012, a significant improvement from earnings of 21 cents per share for 2009.

The stock will likely provide an upside of 49% over the next 12 months with a consensus target price of $5.7, according to analysts polled by Bloomberg. In comparison, Longtop Financial Technologies ( LFT), VanceInfo Tech ( VIT), Camelot Information Systems ( CIS), HiSoft Tech ( HSFT) and TNS ( TNS) are expected to return around 38%, 12%, -23%, 6% and 35%, respectively.

The stock is currently trading at a forward price-to-earnings multiple of 13.0. All the three analysts covering the stock recommend buying.

3. Hong Kong-based CDC Software ( CDCS) provides a suite of enterprise software applications.

The company reported non-GAAP revenue of $54.2 million and non-GAAP earnings per share of 25 cents for 2010 third quarter, exceeding consensus estimates. Commenting on the results, Peter Yip, CEO of CDC Software said in a press release, "With an impressive 35% improvement in third quarter Total Contracted Backlog of $133.9 million compared to $99.3 million in the third quarter 2009, and increases in our recurring revenue for the third quarter, we expect to accomplish our previously announced goal to develop recurring revenue streams reaching closer to 70% of total revenue over the next few years."

At $7.03, the stock is trading at an attractive price-to-earnings multiple of 6.6, while Epicor Software ( EPIC), Lawson Software ( LWSN), Salesforce.com ( CRM), Oracle ( ORCL), NetSuite ( N) and SAP ( SAP) are trading at PE multiples of 17.1, 18.8, 108.5, 15.7, 199.0 and 16.6, respectively. In addition, CDC Software's EV-to-EBITDA ratio of 4.3 is well below its competitors.

Of the four analysts covering the stock, three recommend buying and one suggests holding. Analysts polled by Bloomberg expect the stock to gain around 49% over the next 12 months with a consensus target price of $10.5.

2. China's Sky-Mobi ( MOBI) operates China's biggest mobile application store by sales. The company sells games, music and books for mobile handsets and operates a mobile social network.

Last week, analysts at Citigroup initiated coverage on the stock assigning a buy rating and a 12-month target price of $12.

Year-to-date, the stock surged around 20.5%, whereas China Mobile ( CHL), China Unicorn ( CHU), KongZhong ( KONG) and China GrenTech ( GRRF) returned around -0.4%, 15.9%, -1.1% and -1.5%, respectively.

The three analysts covering the stock recommend buying and expect the stock to gain around 55% over the next 12 months with a consensus target price of $10.0.

1. China Information Technology ( CNIT) provides Geographic Information Systems (GIS) solutions and digital public security and hospital information systems.

Analysts polled by Bloomberg expect the company to report earnings of 22 cents per share for 2010 fourth quarter, compared to earnings of 18 cents per share and 21 cents per share in the year-ago and quarter-ago periods. For the full year, analysts expect the company to report earnings of 73 cents per share for 2010, 83 cents per share for 2011, in comparison to earnings of 62 cents per share reported for 2009.

During the past 12 months, the return-on-equity has been 22.1%. In comparison, Sutron ( STRN), China Digital TV Holdings ( STV), Tyler Technologies ( TYL) and Merge Healthcare ( MRGE) have ROEs of 16.1%, 10.6%, 21.7% and 0.7%, respectively.

The stock is currently trading at an attractive forward price-to-earnings multiple of 6.7 and EV-to-EBITDA ratio of 5.1.

The three analysts covering the stock recommend buying and expect the stock to gain around 139% over the next 12 months with a consensus target price of $11.0.

>To see these stocks in action, visit the 10 Technology ADRs With Upside portfolio on Stockpickr.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.