Three Top Tech Penny Stocks to Buy Now

Penny Stocks to Buy NowThe boom in the tech industry makes for some of the best penny stocks on the market. Investors looking for penny stocks to buy now need look no further than this evolving, rapidly growing sector.

Although penny stocks are generally considered a high-risk investment, there are ways to minimize this peril. The savvy investor can play it smart by seeking out penny stocks that are listed on one of the major exchanges like the New York Stock Exchange (NYSE), AMEX, or Nasdaq. Perform research on the company behind the stock, stay away from fledgling tech start-ups, and seek out investments that have a market capitalization that exceeds $100 million. (For more penny stock risk management techniques, see this guide on how to buy penny stocks...)

Our list of tech penny stocks to buy now are all involved in rapidly growing, multi-billion dollar markets that are predicted to enjoy exponential increases in 2014.

List of Penny Stocks to Buy Now in the Tech Sector

No. 1: QuickLogic Corp. (Nasdaq: QUIK) - This company markets, designs, and supports solutions for smartphones, secure access data cards, tablets, broadband access data cards, and mobile products with an emphasis on low power and customization. QUIK's solutions provide manufacturers of original equipment and designs with the ability to extend the battery life of their products. Manufacturers may also use QUIK to add new features and give handheld device users a better visual experience.

A top penny stock to buy now, QuickLogic is well-positioned in the undergoing massive market shift to mobile communication and computing.

QUIK stock had a 52-week range of $2.11 to $5.57 on Thursday, with a market cap of $236.57 million. Shares traded at $4.29, up 8.61% year to date and 85.71% in the last 12 months.

No. 2: Echelon Corp. (Nasdaq: ELON) - Echelon is a global leader in control networking platforms. Its focus is the selling, marketing, and development of energy control networking solutions. Based in San Jose, Calif., the company offers a wide range of unique products that allow everyday devices like thermostats, electricity meters, valves, and light switches to be networked or interconnected.

Echelon is just now coming onto investors' radars as a viable tech penny stock. In October, a study by the International Data Corporation (IDC) reported that the market for the Internet of Things (IoT) is expected to generate $8.9 trillion in revenue by 2020. Compare to the $4.9 trillion revenue figure in 2013, and Echelon - a connectivity company that plays right into the IoT - is poised to enjoy a boom. Additionally, ELON has long been a favorite of Connected World Magazine as a "game changer" in the tech industry.

Up 24.77% in 2014, Echelon stock traded at $2.69 per share on Thursday. ELON shares have a 52-week range of $1.99 to $4.18 and a market cap of $116.34 million.

No. 3: Ambient Corp. (Nasdaq: AMBT) - This company sells, develops, and designs smart grid communication platforms for utility companies.

Based in Newton, Mass., Ambient is a rising star in the tech industry. It is rapidly growing and making sophisticated advancements that are propelling it to the top of the tech food chain.

Recently the company unveiled several developments that are expected to boost its growth and relevance in the tech industry. For example, just in April, the company announced its new Powerline Communications (PLC) technology. The product solution connects existing or new utility power meters for "robust, intelligent and future-ready smart grid applications and functionalities."

The company has a market cap on the smaller side, at $18.36 million - making this a riskier penny stock subject to increased volatility. And indeed, AMBT stock suffered from January 2013 through this past March, losing 56.17% of its share value. But AMBT appears to be rebounding, with a 27.55% jump in just the last one-month period. This is a tech penny stock to buy now for braver souls - and it's certainly at least one worth watching for any penny stock investor.

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