5 Top NASDAQ Tech Stocks: Datawatch Gains 22.13 Percent

Last week was a tough one for the tech sector, which was hit particularly hard on Friday as major companies disappointed with their quarterly earnings reports. 
However, some companies were still able to post share price gains despite the difficult market. Here’s a look at last week’s top NASDAQ-listed computer software and processing stocks. The top riser during the period was Datawatch (NASDAQ:DWCH), and it was followed by Sphere 3D (NASDAQ:ANY), Netlist (NASDAQ:NLST), GigaMedia (NASDAQ:GIGM) and Smith Micro Software (NASDAQ:SMSI). 

Datawatch

Datawatch is engaged in the design, development, marketing, distribution and support of business computer software, primarily within the visual data discovery market. The company saw a 22.13-percent increase in share price last week, offsetting a year-to-date decline of 27.07 percent. 
Vice President Sanjay K. Mistry certainly sees value in the company. Financial Market News states that Mistry acquired 20,400 shares of the company in a transaction on February 1. The vice president now owns 139,367 shares of the company valued at $616,002.14.

Sphere 3D

Sphere 3D delivers virtualization technology and data management solutions that enable workload-optimized solutions. Essentially, the company allows organizations to use a combination of public, private and hybrid cloud strategies while providing affordable storage solutions.
Last Tuesday, Ladenburg Thalman analyst Daniel Amir issued a “buy” rating for the company and set a price target of $3. During the week, the company saw a 20.16-percent increase in share price, adding to a monthly gain of 9.59 percent.

Netlist

Netlist designs, manufactures and sells a range of memory subsystems intended for data center servers and the high-performance computing and communications markets. These memory subsystems are combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs).
Last week, Netlist’s share price increased by 19.27 percent, compounding the growth that’s been seen all year from the company — year-to-date it’s up 47.73 percent.

GigaMedia

GigaMedia is a holding company with a portfolio of online gaming and cloud computing services. Game operations primarily take place in Taiwan, Hong Kong and Macau, while the company’s cloud computing business is based in Taipei. Last week’s growth of 13.79 percent makes headway into reversing the 1.98-percent loss the company has seen since the beginning of January.

Smith Micro Software

With a weekly rise of 12.88 percent last week, software solutions provider Smith Micro Software rounds out the list. The company provides solutions and services that simplify and enhance the mobile experience and capitalize upon mobile internet. Since the start of 2016, the company’s share price has declined 8.64 percent. 
 
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 $10 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered. 
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.