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.

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Fool contributor Anders Bylund holds no position in any of the companies discussed here. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool is investors writing for investors.