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 Synaptics (Nasdaq: SYNA) are touching higher ground today, up by as much as nearly 22% after the company reported first-quarter earnings besting analysts' expectations.

So what: Revenue for the quarter was $133.4 million, which resulted in non-GAAP earnings per share of $0.57. Both figures topped the Street's estimates, which were $132.6 in sales and $0.47 per share in profit.

Now what: The company also authorized a $100 million buyback program and has almost completed its transition into making only chips for touchscreen devices in the mobile market, which promises higher margins. Other players in the touchscreen microcontroller market are also seeing some upside today, including Atmel (Nasdaq: ATML) and Cypress Semiconductor (Nasdaq: CY). A handful of analysts have also followed up with upgrades this morning, including Craig-Hallum and Sterne Agee. Synaptics is profiting from technology's major shift toward intuitive interaction like touch, which is the exact reason I happen to own Atmel and Cypress.

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Fool contributor Evan Niu owns shares of Atmel and Cypress Semiconductor, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Cypress Semiconductor and writing covered calls in Synaptics. Try any of our Foolish newsletter services free for 30 days. 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 has a disclosure policy.