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 motion-processing chip-designer InvenSense (NYSE: INVN) climbed 13% on Friday after the company's quarterly results easily topped Wall Street expectations.

So what: The third-quarter beat was so wide -- adjusted EPS of $0.13 versus the consensus estimate of just $0.06 -- that analysts are being prompted to raise their growth expectations on the stock. "During our fiscal third quarter, we marked two significant milestones," said CEO Steven Nasiri. "[F]irst, we announced the World's Smallest Dual-Axis Gyroscopes for Optical Image Stabilization in SmartPhones, and second, we began revenue shipments of our integrated 6-axis MPU-6050 products."

Now what: Don't let today's rally keep you from looking into the stock. In fact, Oppenheimer raised their price target on InvenSense to $15 per share on the expectation that it will benefit from Microsoft's looming release of Windows 8 and smart TVs. Buying into a hot stock with a high P/E isn't exactly ideal, but given the juicy growth potential of motion processing technology, InvenSense might be one of those stocks that will always seem expensive. 

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