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 TriQuint Semiconductor (UNKNOWN:TQNT.DL) have fallen nearly 12% after providing weak forward guidance in an otherwise solid earnings report.

So what: The company reported fourth-quarter revenue of $233.6 million and adjusted earnings per share of $0.04, both of which beat the analyst consensus of $222.8 million and $0.02 per share, respectively. However, TriQuint now sees a weak first quarter ahead, and has projected $180 million to $190 million in revenue with a loss per share of between $0.12 and $0.14. These numbers fall well below the $205.3 million in revenue and zero earnings that Wall Street was looking for.

Now what: Analysts at both Longbow and Needham downgraded TriQuint from buy to hold as a result of the soft guidance, and it's not hard to see why. TriQuint has had a real roller-coaster ride with its earnings and that coaster looks to be rolling lower into the year. The company has a reasonable amount of cash on hand, and has maintained stable levels of cash for years, but that alone isn't enough to justify jumping in on a weak day.

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