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 memory module maker SMART Modular Technologies (Nasdaq: SMOD) are soaring as much as 13% above last night's closing price on about twice the average daily trading volume.

So what: Not one but two analysts reiterated their "buy" ratings on this stock after an apparently very convincing analyst day. Strong business in Brazil is one value driver for SMART Modular; the ever-present promise of solid-state drives getting their turn in the sun is another.

Now what: SMART Modular may venture into 52-week highs if this analyst-powered boost has legs. Even so, the stock is trading for about nine times trailing earnings, which places it in the same bargain-basement territory as storage rivals STEC (Nasdaq: STEC), Western Digital (NYSE: WDC), and Seagate Technology (NYSE: STX). It's honestly hard to see how you can go wrong with any of these stocks starting from such deep-discount prices.

Interested in more info on SMART Modular? Add it to your watchlist by clicking here.