Sometimes growth is just irresistible. I can't say that I think chasing stocks is a prudent investment strategy, but every once and a while, you find a growth company that the marketplace gets excited about.

Of course, growth is a subjective measure. What is more important in stock market speculating is always the market's affinity for a stock. A stock can be going up big-time when the company's only growing by 25% per year. Meanwhile, a company that's growing by 40% may not be recognized by the marketplace.

So, when you find a company that the market is rallying around, it can pay to trade that stock.

Case in point: Techwell Inc. (NASDAQ/TWLL), which is another successful new listing on the NASDAQ.

Techwell is a semiconductor design company that sells mixed signal integrated circuits for video applications in the consumer, security surveillance, and automotive markets.

The company's expertise specifically deals with semiconductors that enable the conversion of analog video signals to digital form. The company is based in San Jose, California, and boasts approximately 80 employees in the U.S., Korea, Taiwan, China, and Japan.

According to the company, its revenues for the second quarter of 2006 grew 32% to $12.8 million, as compared to revenues of $9.7 million in the second quarter of 2005.

The company generated revenues of $5.7 million from its security surveillance products, $1.3 million from LCD display products, $5.4 million from video decoder products, and $356,000 in other revenues.

Gross margin grew in the latest quarter to 59%, up from gross margin of 54% in the preceding quarter, and 56% in the comparable quarter in 2005.

Net income for the second quarter of 2006 grew to $2.9 million, or $0.15 per diluted share, as compared to net income of $2.2 million, or $0.12 per diluted share, generated in the second quarter of 2005.

The company finished the quarter with cash and short-term investments of $44.2 million.

Right now, Techwell is a bit of a "hot stock" on the market. Who knows if it will keep going up, but this company may just provide a decent trade for the aggressive stock market speculator.