With the stock market being as bloated as it is today, it’s getting harder and harder to find good companies to invest your money in. Moreover, if you are not careful, you might lose quite a bit when the U.S. stock market enters a correction phase. However, there are still stocks worth watching, especially in the technology sector. And they look dirt cheap in today’s market. Here are three technology penny stocks to watch in September 2015.
Dot Hill Systems Corp. (NASDAQ:HILL)
Dot Hill Systems Corp. (NASDAQ:HILL) is in the business of making hardware and software products for small and large computer data storage systems. In the most recent quarter, the company enjoyed non-GAAP revenue growth of 25% year-over-year. Moreover, non-GAAP earnings grew 200% to six cents per share.
The company has a leading position among independent providers of data storage solutions. In an age of a growing need for data analytics, demand for data storage solutions is expected to surge. If Dot Hills Systems continues its solid execution and product innovation, it could continue to increase its market share.
Currently, the Dot Hills Systems’ shares trade at $5.36 apiece, down quite a bit from last year’s high of $7.49.
Quantum Corporation (NYSE:QTM)
Quantum Corporation (NYSE:QTM) is a manufacturer of storage devices for computers. The company has been offering tape storage products since 1994 and disk backup and recovery products since 2002. In 2011, it started offering cloud data protection products.
The company had a not so good quarter due to a challenging environment in the storage business. Both top and bottom lines missed expectations. Currently, the stock trades at $1.03 per share.
The potential upside for the company comes from its scale-out storage business—a dynamic storage environment that supports balanced data growth. In the most recent quarter, revenue from scale-out storage and related service grew 54% year-over-year. Moreover, the segment has been growing at a 50%+ rate for four consecutive quarters.
Amkor Technology, Inc. (NASDAQ:AMKR)
Amkor Technology, Inc. (NASDAQ:AMKR) provides a range of semiconductor packaging and testing services. Founded in 1968, Amkor is now a strategic manufacturing partner of more than 300 leading semiconductor companies and electronics OEMs.
The company’s stock price has declined quite a bit since March of this year. However, after its second-quarter earnings report on July 27th, the company’s shares are showing strong upward momentum. Volume looks good and the climb has been steady.
Currently, Amkor trades at $4.43 a share, still quite far from the $9.91 reached on March 2nd. The company expects the overall market environment to be sluggish in the third quarter, but thinks that demand will strengthen in the fourth.