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 idiosyncratic networking specialist Radware (Nasdaq: RDWR) are flying high today, topping out at 23% above Friday's closing price in early trading.

So what: Local newspapers report that the Israeli routing specialist has received a buyout bid from Riverbed Technology (Nasdaq: RVBD) at $47 a share. The price pop hasn't reached quite that high, and for good reason -- Israeli media outlets have already reported buyout interest around Radware from IBM (NYSE: IBM) and Hewlett-Packard (NYSE: HPQ), but no official bid ever materialized from that, and neither Riverbed nor Radware have announced anything official yet.

Now what: Radware's stock price has nearly tripled over the past year and quadrupled over the past two years. This was a spiffy-pop if you bought Radware shares between fall 2008 and spring 2009. Taking some profits at this point would be eminently reasonable, but the company's technology really does make it an attractive buyout candidate, so I can't blame you for holding on a bit longer.

Interested in more info on Radware? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here, though he has received some training in how to manage Radware routers. The Fool owns shares of IBM. 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.