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 electronic and fiber-optic connectors specialist Amphenol (NYSE: APH) climbed 10% on Wednesday after the company reported quarterly results and guidance that topped Wall Street estimates.

So what: Amphenol continues to pay hefty clean-up costs related to a September flood at its Sidney, N.Y., manufacturing plant, but the fourth-quarter results -- adjusted EPS of $0.73 versus the consensus of $0.70 -- suggest that production keeps ramping up much faster than Wall Street had expected. In fact, the stock is now up about 29% over the past month alone.

Now what: Don't let today's pop keep you from looking into Amphenol. "The electronics revolution continues unabated in all of our end markets, with new applications and higher performance requirements driving accelerated demand for our leading interconnect technologies," CEO Adam Norwitt said. "This creates a significant, long-term growth opportunity for Amphenol." Buying into a hot stock isn't exactly ideal, but given its tasty growth prospects, industry-thumping profitability, and strong free cash flow, Amphenol might be worth paying up for.

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