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By Lynn Saylor

Below is a list of five Tech and Tech-related stocks that have absolutely been on fire this year. They are the best performing, heavily traded NASDAQ-exchanged Tech-tickers that have undoubtedly kept their owners very happy through the first quarter of 2012.

They all have plenty of room and potential to continue their current runs, and are worth keeping on your watch lists so as to possibly take advantage of any unwarranted pull-backs or seriously-oversold conditions that are likely to come to pass in the near-to-mid future.

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Mitek Systems, Inc. (MITK)

Price change YTD: 67.03%

From the company:

Mitek Systems is an innovator in mobile-imaging solutions that use smartphone cameras for check deposits and bill payments. Our customers include 7 of the top 10 US banks and more than 160 other financial institutions. For more than 20 years, Mitek has provided FIs with advanced imaging and analytics software to authenticate and extract data from imaged checks and other financial documents.

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Its stock currently trades at $12.03 with 24.68M shares out, giving it a market cap of $296.92M. Institutional ownership stands at about 44% with the short interest as of 02/29/12 being 4.3M shares. The average analyst price target is $17.00.

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OmniVision Technologies, Inc. (OVTI)

Price change YTD: 44.75%

From the company:

OmniVision Technologies is a leading developer of advanced digital imaging solutions. Its award-winning CMOS imaging technology enables superior image quality in many of today's consumer and commercial applications, including mobile phones, notebooks, netbooks and webcams, security and surveillance, entertainment, digital still and video cameras, automotive and medical imaging systems. For fiscal 2011, OmniVision reported revenues of $956.0 million.

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Its stock currently trades at $17.70 with 52.31M shares out, giving it a market cap of $925.94M. Institutional ownership stands at about 79% with the short interest as of 02/29/12 being 4.31M shares. The average analyst price target is $20.00.

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Shutterfly, Inc. (SFLY)

Price change YTD: 41.87%

From the company:

In a snapshot, Shutterfly makes it fun and easy to be thoughtful and creative with your memories. Sure, we deliver award-winning prints from your digital camera right to your door. But delivering prints is just one thing we do. From start to finish, we make it easy to enhance, share and store your digital photos. We also make memory-keeping and gift-giving easy with our personalized Photo Books, Greeting Cards, and dozens of photo gifts suitable for any occasion.

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Its stock currently trades at $33.76 with 34.86M shares out, giving it a market cap of $1.18B. Institutional ownership stands at about 100% with the short interest as of 02/29/12 being 6.42M shares. The average analyst price target is $32.00.

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Velti plc (VELT)

Price change YTD: 83.68%

From the company:

We deliver technology and services that enable companies to engage with and reach their consumers through innovative mobile marketing and advertising efforts. Our mGage platform is available for agencies and companies ready for a set of self-service based tools that consolidate media management, simplify mobile asset production, and deliver highly engaging messaging campaigns. For those who want professional assistance in achieving mobile goals, Velti's managed services organization offers expert help in developing strategies, programs, and hosting services to support mobile initiatives.

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Its stock currently trades at $12.63 with 61.67M shares out, giving it a market cap of $778.90M. Institutional ownership stands at about 71% with the short interest as of 02/29/12 being 4.18M shares. The average analyst price target is $19.00.

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Quest Software, Inc. (QSFT)

Price change YTD: 28.23%

From the company:

Critical IT systems can be complicated and expensive to manage. That's why Quest creates simple-to-use, innovative IT management software that saves time and money across physical, virtual and cloud environments. Established in 1987, Quest is a global software company offering a broad and deep selection of products that target common IT challenges. It's not just what our products do that's helpful - it's that they do so many things the platform vendors don't. More than 100,000 worldwide customers enjoy the simplicity of working with a single vendor who can solve so many IT management pains.

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Its stock currently trades at $24.00 with 83.43M shares out, giving it a market cap of $2B. Institutional ownership stands at 63% with the short interest as of 02/29/12 being 1.88M shares. The average analyst price target is $24.00.

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Source: Tech's Highest Fliers Of The Year