One company that fits his bill is semiconductor maker NetLogic (NETL), whose chips are used to optimize routing in advanced networks. Trading recently at 18 times his forward estimate of $1.80 a share, "NetLogic is undervalued, given our belief that the firm can grow at 40%" a year.

The money manager notes that "technology has always been a core focus for our fund. Smaller technology companies have the opportunity to innovate and unsettle larger incumbents." Among his other tech picks are Anadigics (ANAD), Omniture (OMTR), Synaptics (SYNA), Ansys (ANSS), CyberSource (CYBS), and Atheros Communications (ATHR).

The money manager notes that "technology has always been a core focus for our fund. Smaller technology companies have the opportunity to innovate and unsettle larger incumbents." Among his other tech picks are Anadigics (ANAD), Omniture (OMTR), Synaptics (SYNA), Ansys (ANSS), CyberSource (CYBS), and Atheros Communications (ATHR).

The money manager notes that "technology has always been a core focus for our fund. Smaller technology companies have the opportunity to innovate and unsettle larger incumbents." Among his other tech picks are Anadigics (ANAD), Omniture (OMTR), Synaptics (SYNA), Ansys (ANSS), CyberSource (CYBS), and Atheros Communications (ATHR).

The money manager notes that "technology has always been a core focus for our fund. Smaller technology companies have the opportunity to innovate and unsettle larger incumbents." Among his other tech picks are Anadigics (ANAD), Omniture (OMTR), Synaptics (SYNA), Ansys (ANSS), CyberSource (CYBS), and Atheros Communications (ATHR).

The money manager notes that "technology has always been a core focus for our fund. Smaller technology companies have the opportunity to innovate and unsettle larger incumbents." Among his other tech picks are Anadigics (ANAD), Omniture (OMTR), Synaptics (SYNA), Ansys (ANSS), CyberSource (CYBS), and Atheros Communications (ATHR).

The money manager notes that "technology has always been a core focus for our fund. Smaller technology companies have the opportunity to innovate and unsettle larger incumbents." Among his other tech picks are Anadigics (ANAD), Omniture (OMTR), Synaptics (SYNA), Ansys (ANSS), CyberSource (CYBS), and Atheros Communications (ATHR).

Oberweis is also a big fan of Intuitive Surgical (ISRG), which he first purchased in July 2005; his fund's average share of Intuitive is up about 285%. Intuitive Surgical developed the minimally invasive da Vinci robotic surgery system, particularly popular for prostate removal. A surgeon sitting at a computer guides tiny robotic arms, equipped with cameras that transmit magnified images, making the operation more precise. More hospitals are buying the $1.6 million systems, Oberweis says. In addition, he notes, recurring revenue from installed surgical supplies continues to climb, and the system is increasingly being adopted for new procedures. Both revenue and profits are growing strongly, he says, justifying the company's high P/E, now 51 times this year's expected $5.46 a share in earnings, and recent stock price of 278.