Silicon Graphics Shares Popped: What You Need to Know

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Silicon Graphics (Nasdaq: SGI  ) jumped 22% today after the company released another outstanding earnings report.

So what: Revenue jumped 33% from last year to $143.7 million easily passing estimates of $135.6 million. Earnings per share also beat estimates although the company still reported a loss of $0.05 per share.

Now what: Silicon Graphics is on a roll after reporting a blowout earnings report in February and another one in the first quarter. Management expects the company to grow at twice the industry growth rate during 2011, which should help push shares higher. I think Silicon Graphics has more room to run as growth continues to drive the company.

Interested in more info on Silicon Graphics? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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