5 Top Weekly NASDAQ Tech Stocks: Radisys Gains With the Index

The NASDAQ Composite (INDEXNASDAQ:.IXIC) started the week at 7,451.90 points on Monday (July 2) and has been steadily on the rise with the index trading at 7,685.59 points as of 12.40 p.m. EST on Friday (July 6).

The NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 4,148.91 points and, similar to NASDAQ Composite, has been on the rise throughout the week with the index trading at 4,294.94 points as of 1.02 p.m.EST on Friday.

On Tuesday (July 3), CNET reported that Netflix (NASDAQ:NFLX) is testing a new ‘Ultra’ tier of service which would allow four devices to receive simultaneous streaming of Ultra HD video and audio.

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The big gainers this week were the small and mid-cap companies with over 130 companies registering a positive growth throughout the five day period. Notably, the top five stocks mentioned below had a growth of over 35 percent.

Here are the five top weekly NASDAQ tech stocks for the week:

  • Radisys (NASDAQ:RSYS)
  • Echelon (NASDAQ:ELON)
  • Xplore Technologies (NASDAQ:XPLR)
  • Taitron Components (NASDAQ:TAIT)
  • Tintri (NASDAQ:TNTR)

Radisys

The company that topped the charts for the week and made gains of over 114 percent is Radisys with the stock trading at US$ 1.50 as of 1:02 p.m. EST on Friday.

Radisys is a global leader in open telecom solutions and enables service providers to drive disruption with new and open architecture models. With its headquarters in Oregon, Radisys has 600 employees and has an engineering team based out of Bangalore, India.

The week previous on June 29, Reliance Industries (NSE:Reliance) announced that it will acquire the Radisys for US$ 1.72 per share. Reliance is India’s largest conglomerate with a consolidated turnaround of US$ 66.1 billion and has an operating profit of US$ 9.8 billion.

Echelon

With more than 140 million connected devices worldwide, Echelon has pioneered the development of open-standard networking platforms for connecting, monitoring and controlling devices in commercial and industrial applications.

The company’s shares gained 99.63 percent in the week and is trading at US$ 8.30 as of 1.02 p.m. EST on Friday.

Echelon did not announce any updates in the week but the company was the top stock the previous week after Adesto Technologies announced that it will acquire Echelon for US$ 8.50 per share.

Xplore Technologies

Xplore Technologies has been in the spotlight in the last week after the company announced that it will be acquired Zebra Technologies (NASDAQ:ZBRA). Further, the company reported a record revenue of US$ 86.9 million, an increase of 11.6 percent year-over-year.

Xplore, a maker of rugged tablets, laptops among other devices will be acquired by Zebra Technologies, a provider of connected devices for US$ 6 per share.

Xplore gained 52.56 percent in the week and has been trading at US$ 5.97 as of 1.02 p.m., EST on Friday.

Taitron Components

Based in Valencia, California, the company distributes a wide variety of transistors, diodes and other discrete semiconductors.

The company gained 43.12 percent in the week and  was trading at US$ 2.39 as of 1.02 p.m. EST on Friday.

The company that distributes the components to contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs) did not announce any meaningful updates in the week.

Tintri   

The company that offers an enterprise cloud infrastructure built on a public cloud like web service architecture increased 38.53 percent over last week’s trading period and rounds out the five top weekly NASDAQ tech stocks.

The stock was trading at US$ 0.19 as of 1.02 p.m. EST on Friday with the company not providing any meaningful updates in the week that would explain the increase in share price.

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Data for 5 Top NASDAQ Stocks articles is retrieved each Friday as of 12:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization of less than $ 500 million prior to the week’s gains are included. All companies in the technology sector are considered.

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

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