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: Semiconductor packaging and testing expert Amkor Technology (Nasdaq: AMKR) crashed overnight, falling as much as 13.5% in early trading today.

So what: The third-quarter report fell short of analyst expectations and near-term guidance was also disappointing. A low-end product mix and slow sales to consumer electronics customers conspired to set up this weak report.

Now what: We've heard this song before: A company involved in the manufacturing process of semiconductors unveils a slow fourth-quarter outlook but gazes ahead to a generally strong market in 2011, and the shares take a pummeling. Nanometrics (Nasdaq: NANO) did it, Mattson Technology (Nasdaq: MTSN) too, and FSI International (Nasdaq: FSII) wasn't safe either. It seems you can take your pick among chip-fabrication experts if you're looking for a high-tech stock that's been oversold on recent short-term concerns.

Interested in more info on Amkor Technology? 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.