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 Synaptics, Incorporated (NASDAQ:SYNA) jumped more than 12% during intraday trading Friday, then settled to close up around 6% thanks to an analyst upgrade following mixed fiscal second quarter results.

So what: Quarterly net revenue jumped 44% year-over-year to $205.8 million, which translated to adjusted net income growth of 62% to $0.86 per share. By contrast, analysts were modeling adjusted earnings of $0.89 per share on sales of $201.51 million.

However, thanks in part to incremental revenue from Synaptics' new Fingerprint ID business -- the acquisition of which is now expected to be accretive to earnings by the end of the fiscal year -- the company stated revenue in the current quarter should be in the range of $180 million to $200 million. Analysts, on average, were only expecting sales of $183.66 million.

The performance and outlook was good enough to earn the respect of analysts at Feltl, who upgraded shares of Synaptics from "Hold" to "Buy" and assigned a $68 price target. 

Now what: We generally take most analyst movements with a grain of salt, but I'll admit shares of Synaptics look reasonably priced at around 15 times next year's estimated earnings. Keeping in mind those estimates are likely to increase once everyone' has time to fully digest today's news, I think the stock could very well continue to reward patient long-term investors.