Posts Tagged ‘max linear’

IPO Market Shows Signs Of Life

Mar 24, 2010 IPOs, Stock to watch

Three initial public offerings started trading today and all three turned in a good performance and closed above their offering price.

The first day performance of the new stocks, provided encouragement for some traders who took it as a sign that we will continue to see the upward moves we have been seeing in the overall market.

First Interstate BancSystem (FIBK) of Billings, Montana, is a $7.1 billion financial holding company that owns 72 bank branches in Montana, Wyoming, and South Dakota.

The company was initially looking to sell 8.7 million shares in the $14-$16 range, but with the high demand, priced 10 million shares at $14.50. The stock opened at $16, up $1.50 from the offering price and closed at $15.70.

Calix (CALX), a networking equipment manufacturer, which bills itself as “The Largest Communications Equipment Supplier Focused Solely on Access” priced 6.3 million shares at $13, which was at the higher end of the expected $11-$13 range. The stock opened at $17, but closed of the highs at $15.10.

Semiconductor company Maxlinear (MXL) priced 6.4 million shares at $14, up from an expected range of $11 to $13. The shares ended their first day of trading at $18.78.

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