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) jumped 10% today after the company released earnings and guidance that left Wall Street in the dust again.

So what: Adjusted earnings per share of $0.25 easily passed analyst expectations of $0.17, and revenue of $458 million beat estimates of $436.1 million. Revenue outlook of $440 million to $463 million next quarter easily passed estimates of $420 million.

Now what: Microcontroller sales were the big driver this quarter and are expected to help overcome a seasonally weak quarter next quarter. Atmel has been on a tear, rising consistently over the last six months. Buoyed by two analyst upgrades today, the momentum should continue. I am bullish on today's news and think improving sales of touchscreens will help the company continue to outperform going forward.

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

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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