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 semiconductor designer Skyworks Solutions (Nasdaq: SWKS) were headed skyward today, gaining as much as 16% in intraday trading after the company announced fiscal second-quarter earnings.

So what: During earnings season, the math for stock pops and drops is generally pretty simple -- beat analysts' estimates and you're headed up, miss them and you're southbound. For Skyworks, the former was the case as the company announced non-GAAP earnings per share of $0.41 versus analyst estimates of $0.39. Revenue of $325 million also topped the expected $317 million. Compared to last year, the results also looked good as revenue rose 37% and non-GAAP earnings per share soared 71%.

Now what: While beating current-quarter earnings estimates can get a stock going during earnings season, projecting future earnings that are better than expected can really give some added oomph. Fortunately for Skyworks shareholders, management did just that, guiding for $0.46 in non-GAAP EPS in the second quarter versus current Wall Street estimates of $0.43.

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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.