5 Top NASDAQ Tech Stocks of 2016: NVIDIA Makes Gains to Lead

The NASDAQ Technology Sector (INDEXNASDAQ:NDXT) had a good year and was up 24.05 percent to end the year at 2,868.70 points by market close on the last trading day of 2016.
It really has been a positive year for technology, with a general upwards trajectory in stocks. There was a dip on June 27, due to volatile markets after Brexit. Politics again played a part across the pond. Some stability followed the volatility from the US elections where Donald Trump surprisingly clinched the coveted seat for US president. Indeed, since the win, tech stocks hardly moved – until December 1, when they plunged. According to TechCrunch, Trump will not be a friend to the tech world in 2017.
Despite remaining uncertainty surrounding the Trump presidency, here are 2016’s top NASDAQ tech stocks in the computer software and processing industry:

• NVIDIA (NASDAQ:NVDA)
• PDF Solutions (NASDAQ:PDFS)
• Mentor Graphics (NASDAQ:MENT)
• Cognex (NASDAQ:CGNX)
• Mimecast (NASDAQ:MIME)

Here is a closer look at the top gainers for 2016:

NVIDIA

NVIDIA is a computer hardware maker and are increasingly known as “the AI computing company.” They have been announced as the Yahoo Finance Company of the Year.
Shares of NVIDIA gained 223.85 percent over the year’s trading period, and ended the year at $106.74 per share.

PDF Solutions

PDF Solutions offer infrastructure technologies and services for integrated circuits (IC). Its technologies and services focus on the IC manufacturing process life cycle and operate in the segment of licensing and implementation of yield improvement solutions for integrated circuit manufacturers. Its solutions combine software, test chips, an electrical wafer test system, methodologies and professional services. Their last financial results saw total revenues of $27.3 million, up from $23.9 million for the third fiscal quarter of 2015.
Shares of PDF Solutions gained 108.03 percent over the year’s trading, and ended the year at $22.55 per share.

Mentor Graphics

Mentor Graphics is a US-based software firm. Siemens announced the purchase of Mentor Graphics for $37.25 per share, at $4.5 billion.
Shares of Mentor Graphics gained 100.27 percent year-to-date, and ended the year at $36.89 per share.

Cognex

Cognex is a US manufacturer of machine vision sensors, software and systems for robotics. They recently developed the world’s first multi smart camera vision system, the In-Sight VC200, which gets quicker with every camera added.
Shares of Cognex have climbed steadily to register a gain of 88.39 percent over the year, and end the year at $63.62 per share.

Mimecast

Mimecast is an international company managing cloud-based services for Microsoft. They have recently been named a leader in The 2016 Gartner Magic Quadrant For Enterprise Information Archiving.
Shares of Mimecast gained 86.46 percent year-to-date, and ended the year at $17.90 per share.
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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, Emma Harwood, hold no direct investment interest in any company mentioned in this article.
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