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 Skyworks Solutions (Nasdaq: SWKS) jumped as much as 11% today, after the company reaffirmed its quarterly guidance.

So what: Skyworks reassured the market that it still expected revenue of $345 million and earnings per share of $0.46 for the fiscal third quarter. That does not include acquisitions of Advanced Analogic Technologies (Nasdaq: AATI) or SiGe Semiconductor, which were announced in May.

Now what: You might remember that shares popped at the end of April, when Skyworks originally announced this guidance. Since then, Mr. Market became confused about whether the guidance applied to Skyworks before or after acquisition. The company cleared all of that up today, and we're on our way to where we started. Skyworks expects to reach a $2-per-share earnings rate by the September quarter. I think that gives shares plenty of upside at the current price of $25.20.

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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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