Top 10 Penny Stocks To Buy in 2017

10. Intermolecular Inc (NASDAQ:IMI)

First up is Intermolecular Inc (NASDAQ:IMI), in which six funds tracked by us reported having long positions in as of the end of March, up by two over the quarter. These funds amassed $15.76 million worth of shares, which represented 34% of the stock’s float. Among those funds was William C. Martin’s Raging Capital Management, which held 14.73 million shares, while Frank Slattery’s Symmetry Peak Management owned 1.02 million shares.

Intermolecular Inc (NASDAQ:IMI) is a provider of advanced materials solutions that are used for research & development in the semiconductor, consumer electronics, and automotive industries. It owns a large portfolio of patents and has a proprietary platform that allows companies to speed up their research and development. Earlier this year, Intermolecular Inc (NASDAQ:IMI) announced restructuring plans that involve focusing on catering for the semiconductor industry, among others. The move is expected to lower the company’s costs by around $4 million this year.

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