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 radio chip maker Aeroflex (NYSE: ARX) hit a patch of static today, falling as much as 19.7% on heavy, spiky trading.

So what: Aeroflex lowered its fourth-quarter sales estimates by 11% last night, immediately followed by two analyst downgrades from buy to hold. Management pinned the lower-than-expected sales on a late, final approval from the Marine Corps on a $16 million order of radio maintenance equipment.

Now what: Aeroflex is suffering from lumpy sales more than anything else. A delayed order is a far cry from a panic-inducing canceled sale, after all. I'd understand this steep drop if rivals Honeywell International (NYSE: HON) and Agilent Technologies (NYSE: A) were stealing Aeroflex's business, but that's not what's happening at all. This looks like a great time to start a position in this five-star CAPS stock with plenty of renewable government business -- I'm dipping a toe in the affordable waters myself by taking a thumbs-up position in my own All-Star CAPS portfolio.

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

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.