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 linear and mixed-signal chip designer Maxim Integrated Products (Nasdaq: MXIM) are soaring today as high as 13.2% above last night's closing price.

So what: It's another beat-and-raise performance in Maxim's just-reported first quarter. GAAP earnings tripled year over year amid steady demand and a handful of new product releases, with some help from a generous share buyback program in recent quarters.

Now what: Hesitant reports from a few chip makers clearly don't translate into doom and gloom for the whole industry. With that in mind, consider that Maxim is a fine business but still tends to sport narrower margins than major competitors Analog Devices (NYSE: ADI) and National Semiconductor (NYSE: NSM). If Maxim is doing well in this market despite not being quite the best-of-breed competitor, it stands to reason that its superiors should be doing even better.

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

Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.