5 Top Weekly NASDAQ Tech Stocks: Index Bounces Back

After a two-week skid, the NASDAQ 100 Technology Sector index was back on the plus side last week.

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After a couple of weeks of losses, the NASDAQ 100 Technology Sector index (INDEXNASDAQ:NDXT) was on fire last week, rising 1.98 percent to close the trading period at 3,277.67 points.

With that in mind, Reuters reported on Thursday (April 20) the index’s stock price has at least more than doubled over the last five years. As a result, a number of technology stocks have been reaping the benefits of the index’s modest gains.

In particular, last week’s 5 top tech performers on the NASDAQ 100 Technology Sector index were:

  • Netlist (NASDAQ:NLST)
  • Datawatch (NASDAQ:DWCH)
  • Sigma Designs (NASDAQ:SIGM)
  • Avid Technology (NASDAQ:AVID)
  • Evolving Systems (NASDAQ:EVOL)

Here’s a closer look at the 5 top weekly NASDAQ tech stocks.

Netlist

Since 200, Netlist has been in the business of designing, selling and manufacturing a wide range of memory subsystems for datacenter, storage and computing markets.

The company has vast portfolio of products, including the Non Volatile Memory, Embedded Flash, Speciality DIMMs, and Storage Class Memory.  On April 17, the company announced its team of board of directors had assumed a short term stockholder rights agreement. Pursuant to the agreement, its shareholders will receive a dividend by way of preferred stock purchase rights.

As a result of the news, it’s no surprise that Netlist is first on the list: last week, its shares spiked 33.36 percent to close the week at $1.32.

Datawatch

Datawatch isn’t new to the technology scene: in fact, the company has been around for over two decades with the introduction of its first line of products, the Datawatch Monarch. At the time, it was introduced to solve difficult data challenges, and unlock mainframe print spool data for analytic tasks.

Since then, Datawatch has overall evolved into a self-serving data preparation offering quick solutions.

On April 19, the company released its second quarter fiscal 2017 financial results, highlighting an 18 percent revenue increase, although a net loss for the quarter was reported at $450,000. Still–the company’s shares saw an increase last week, increasing b y 29.37 percent to close the week at $9.25.

Sigma Designs

Middle of the pack is Sigma Designs. Shares of the company have been publicly traded for over three decades–since 1986 to be exact–and provides system-on-chip (SoC) to enable smart home convergence by way of set top boxes, smart TVs, media connectivity and IoT devices.

On April 17, the company noted its shares saw a 7.59 percent increase, although there was no related news detailing why. By Friday, shares of Sigma Designs increased 11.61 percent to close at $6.25.

Avid Technology

Next Avid Technology, who develops, markets and sells computer software that enables the creation of audio and video content. In other words, the company’s products are used in a wide variety of entertainment services, which also includes production and post-production, film studios, and independent and cable TV stations.

On April 18, the company announced its CEO, Louis Hernandez, released a book called The Storyteller’s Dilemma: Overcoming the Challenge of the Digital Media Age, which might have contributed to its share price increase. Last week, shares of Avid Technology respectively increased 10.85 percent to finish at $5.11.

Evolving Systems

Closing out the top five is Evolving Systems, who has been developing, delivering and assisting technology and vendor independent software solutions since the mid-80s.

Shares of the company rose marginally by 9.3 percent last week to close at $5.15, although there was no related news that would explain its share price increase.

 

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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