These 6 Tech Stocks Are Riding High

Unemployment is staying close to 9.5%, keeping the chances of a continual recovery dubious at best. Writers, analysts, and commentators alike can't help touting the chances of a double-dip recession. Europe is plagued by sovereign debt worries. China's growth has slowed.

It almost seems a miracle the market is only down a mere 2.2% so far this year!

For contrarian investors, now may be a great time to do some value hunting -- as the overall market trends downward, inevitably some quality stocks will be brought down as well. However, in this article, I'm not worried about all those beaten and bruised stocks trading at impossibly low price-to-earnings ratios.

What is almost as interesting as finding an unearthed gem is finding the stocks that are actually managing to do well in today's market. It is no small feat to stay afloat, let alone grow share price during these turbulent times.

To help you in your hunt for stocks that are riding high and may even have some juice left in them, I've run a screen for tech stocks that have shot up more than 10% in the past 13 weeks and that are trading above a 15 P/E multiple (to keep away the value hounds). In addition, I've enlisted the help of our 165,000 strong investing CAPS community to select only the best of the best -- five-star stocks. They may not be cheap; they may not be the best value play out there; but maybe the market knows something you don't. Check out this list of outperformers, listed in rank order by the significance of their price appreciation:

 

13-Week Price Change

P/E Ratio

CAPS Rating

Broadridge Financial Solutions (NYSE: BR  )

17.2%

13.5

*****

ADTRAN (Nasdaq: ADTN  )

20.1%

23.8

*****

Ramtron International (Nasdaq: RMTR  )

24.4%

55.4

*****

China Digital TV (NYSE: STV  )

25%

16.4

*****

Ebix (Nasdaq: EBIX  )

26%

15.2

*****

Health Grades (Nasdaq: HGRD  )

27.8%

29.3

*****

Source: Motley Fool CAPS. Price change from June 4.

Already achieving the coveted five-star status from The Motley Fool's investing community, these stocks have done enough to impress this tough bunch. In addition, they've shown their resilience over the past 13 weeks, which is no simple achievement.

However, these seven tech stocks aren't a list of buy recommendations; most importantly, you've got to do your own due diligence and see if those lofty P/E ratios are actually warranted. Either way, they seem to be worth your research time.

Have a strong opinion about one of these stocks? Head over to CAPS and let us hear about it!

Jordan DiPietro owns no shares. Ebix and China Digital TV Holding are Motley Fool Rule Breakers choices. The Fool owns shares of and has written puts on Broadridge Financial Solutions. The Fool owns shares of Ebix. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.


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