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 Volterra Semiconductor (UNKNOWN:VLTR.DL) skyrocketed 54% today after chip maker Maxim Integrated (NASDAQ:MXIM) offered to buy the low-energy chip specialist for $575.3 million.

So what: The deal values Volterra at $23 per share and represents a juicy 55% premium to its closing price on Wednesday. Maxim is making the move to strengthen its position in the fast-growing power management space, but judging by its own stock's 3% dip today, Mr. Market isn't too excited about the premium being paid to do it.

Now what: The deal is expected to close early in the December quarter and be immediately accretive to Maxim's bottom line. "With Volterra, we will strengthen our position in the enterprise and communications markets," said President and CEO Tunc Doluca. "We add a very talented team and leading-edge proprietary technology in high-current power management solutions, which further diversifies our business model." So while Volterra is likely all popped out at this point, Maxim's newly purchased growth prospects might be worth looking into.