Last week, the Dow Jones lost 100 points as global uncertainty weighed down stocks.
But one asset class brought investors the opportunity for triple-digit returns: penny stocks.
Just look at last week's top gaining penny stock, Midatech Pharma Plc. (NASDAQ: MTP). On Feb. 26, Midpoint soared from $0.13 to $0.89 - a massive 584% gain.
Midatech closed out the week at $0.52 - a 337% gain for investors who held the stock through to Friday.
Midatech's surge is a perfect example of the value of penny stocks - they can deliver tremendous returns on the smallest price movements.
And that's why we've identified the 10 top penny stocks to buy this week.
With over 2,800 penny stocks trading on the stock market, it can be incredibly difficult to know what penny stocks to buy for solid returns.
That's why we do the digging for you.
Today, we've uncovered a little-known stock under $5 that could soar as much as 127%.
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After looking at last week's top penny stocks, we'll show you this breakout stock.
Here are last week's top-preforming penny stocks:
| Penny Stock | Sector | Current Share Price | Last Week's Gain |
| Midatech Pharma Plc. (NASDAQ: MTP) | Utilities | $1.19 | 337.50% |
| China Internet Nationwide Financial Services Inc. (NASDAQ: CIFS) | Healthcare | $3.25 | 153.1% |
| FTE Networks Inc. (NYSE: FTNW) | Healthcare | $2.05 | 83.04% |
| Nanthealth Inc. (NASDAQ: NH) | Industrial Goods | $1.12 | 70.97% |
| Summit Therapeutics Plc. (NASDAQ: SMMT) | Healthcare | $2.27 | 68.96% |
| Sequential Brands Group Inc. (NASDAQ: SQBG) | Technologies | $2.01 | 66.12% |
| Avinger Inc. (NASDAQ: AVGR) | Basic Materials | $0.68 | 56.78% |
| iFresh Inc. (NASDAQ: IFMK) | Services | $1.38 | 54.01% |
| Key Energy Services Inc. (NYSE: KEG) | Services | $2.68 | 46.45% |
| Genocea Biosciences Inc. (NASDAQ: GNCA) | Financial | $0.70 | 39.31% |
As last week's returns demonstrate, penny stocks can generate spectacular returns even when the rest of the market is heading down.
And that's why we're so excited about our top penny stock to buy this week.
It's a semiconductor company cashing in on the global gaming boom.
In fact, it could jump as much as 187%. And it's only trading for $3.76...
The Best Penny Stock to Buy This Week
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Based in Taiwan, Himax Technologies Inc. (NASDAQ: HIMX) is a global semiconductor supplier.
But it is even more than that. Himax has become a central supplier for some of the most ambitious tech firms on the planet.
In 2013, Himax partnered with Alphabet Inc. (NASDAQ: GOOGL) to produce the liquid crystal used in silicon chips for Google Glass.
Following up on the partnership's success, Alphabet took a 6.3% stake in the Himax's display tech subsidiary.
This has paved the way for future collaborations with one of Silicon Valley's largest innovators.
Himax is also perfectly positioned to take advantage of the booming demand for semiconductors due to the rising popularity of esports.
In 2017 alone, esports drove a 7% increase in semiconductor sales.
With the North American market for esports expected to expand by an additional 35% in 2019, the semiconductor industry is likely to directly benefit.
In fact, analysts have given HIMX a price target of $8 a share - a 112% gain over today's price of $3.76.
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