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 solid-state drive specialist OCZ Technology (Nasdaq: OCZ) are soaring again today by as much as 29% on continued speculation that it may be an acquisition target of larger rival Seagate Technology (Nasdaq: STX).

So what: Following up reports last week, new rumors out of The Register say that Seagate may be offering between $475 million and $550 million in cash, in addition to $450 million to $525 million in stock, bringing a total possible deal up to an approximate $1 billion valuation. That's a healthy premium even to today's high.

Now what: With all the consolidation taking place within the hard drive industry, this rumor has some serious legs to stand on. The Register even echoes the sentiments that Western Digital (Nasdaq: WDC) and Micron Technology (Nasdaq: MU) are both also interested in putting in an offer. OCZ has been putting up enviable growth lately, 54% to $113.6 million last quarter, and there's little doubt in anyone's mind that SSDs are the future.

Interested in more info on OCZ Technology? Add it to your watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Western Digital. The Motley Fool has a disclosure policy.
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