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 EZchip (NASDAQ: EZCH ) have jumped today by as much as 13% after the company reported first-quarter earnings.
So what: Revenue in the first quarter totaled $15.3 million, topping the Street's forecast of $15.1 million. Non-GAAP net income per share came in at $0.23, which was right on target with expectations.
Now what: CEO Eli Fruchter said that all NP-4 customers were now in production and are placing orders and additional platforms are in final development stages. After two years of development, the NP-5 platform has taped out and is ready for mass production, which Fruchter called a "major milestone." EZchip is shifting from a royalty-based model and will sell network processors directly to customers.
Interested in more info on EZchip? Add it to your watchlist by clicking here.
It's incredible to think just how much of our digital and technological lives are almost entirely shaped and molded by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks?" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged by the five kings of tech. Click here to keep reading.