Top Tech Stocks – Inteliquent (IQNT)
IQNT Return: 353%
Inteliquent (IQNT) is a provider of U.S. and international voice telecom services, primarily on a wholesale basis. It’s powered on an all-IP network. While this seems like cool stuff — which should make it part of the standout tech stocks — it has been a tough business.
For the past year, Inteliquent has been focused on transforming its operations. For example, it unloaded its data business for $54.5 million. There have been new programs to hold down costs across the organization. Oh, and Inteliquent has also been adding more services to its voice business, which has been getting traction.
The efforts have turned out to be spot-on. IQNT has raised guidance several times this year and expects positive revenues in 2014. As a sign of its improved financial strength, Inteliquent also announced a dividend. The current yield is 2.2%.
All in all, the combination of all these factors was powerful fuel for making IQNT stock one of the year’s hottest tech stocks.