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 Entegris (Nasdaq: ENTG) are riding high today. The stock jumped as much as 13.3% overnight before cooling off amid heavy trading.

So what: The company, which makes equipment used to purify and transport chip-making materials, reported a stellar first quarter last night. Earnings jumped 53% year-over-year to $0.23 per share on 27% higher revenue.

Now what: Management sees the gravy train rolling on in coming quarters, as chip builders remain busy with building out their production facilities. Entegris counts leading chip foundries United Microelectronics Corp. (NYSE: UMC) and Taiwan Semiconductor Manufacturing (NYSE: TSM) among its customers, so it should have a good handle on industry trends.

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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.