Inphi Raises $81.6 Million in IPO

In its first day as a public company semiconductor provider Inphi Corporation’s stock closed at $15.30 a share on the New York Stock Exchange, up 28 percent from its initial public offering price of $12. Inphi sold 6.8 million shares of common stock on Nov. 11 and raised $81.6 million in its IPO. The firm’s IPO was underwritten by Morgan Stanley, Deutsche Bank Securities, Jeffries & Company, Thomas Weisel Partners, and Needham & Company. Inphi granted the underwriters a 30-day option to purchase up to an additional 1.02 million shares to cover over-allotments, if any. Inphi, based in Santa Clara has a majority of operations in Westlake Village. The company designs high-speed analog semiconductors for telecommunications and computer networks.