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 microcontroller maker Atmel (Nasdaq: ATML) are up by 13.5% as of this writing and break new intraday highs every time I update my real-time price tracker.

So what: Atmel reported a terrific third quarter last night and is reaping the rewards in the market today. The stock has now gained 64% in three months and 160% over the last year, beating both the market and its closest competitors with a big stick.

Now what: It's a great time to specialize in touchscreen controllers thanks to worldwide interest in smartphones and tablet computers. That's why both Atmel and Cypress Semiconductor (NYSE: CY) are looking so strong these days. It also helps that the company is juicing gross margins by consolidating its manufacturing capacity into one facility and selling off the less attractive smartcard business to private equity firm INSIDE Contactless.

Interested in more info on Atmel? Add it to your watchlist by clicking here. By the way, the overnight jump grew to 14.2% during the writing of this article.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Cypress Semiconductor is a Motley Fool Rule Breakers pick. Try any of our Foolish newsletter services free for 30 days. 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.