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 Integrated Silicon Solution (NASDAQ: ISSI) plunged more than 10% during intraday trading Tuesday, after the company announced disappointing fiscal fourth-quarter results.

So what: Quarterly revenue rose 8.1% to $78.4 million, which translated to adjusted earnings of $0.20 per diluted share. Analysts, however, were looking for significantly higher adjusted earnings of $0.26 per share on sales of $80.16 million.

In addition, the company forecast next quarter's revenue to be in the range of $76 million to $82 million, with non-GAAP earnings between $0.17 and $0.21 per share. Once again, that's well below analysts' expectations, which called for forward quarterly revenue and earnings per share of $82.62 million and $0.27, respectively.

Now what: Today's pullback looks like a fairly cut-and-dried case, but it's also worth noting shares currently look relatively cheap trading at around 9 times next year's estimated earnings. As it stands, the company is also enjoying relatively healthy growth with its automotive business in particular, which represented nearly half its revenue during the fiscal year.

Of course, investors should also remember that sort of overexposure to a single sector is risky in and of itself. For now, then, while I wouldn't buy the stock at today's levels, I think investors would do well to at least add it to their watchlists.