Calix, MaxLinear, First Interstate: Three IPOs doing well today

First public offerings are the birthdays of Wall Street – hotly anticipated and closely watched. Today, three separate company IPOs have gone very well. Calix Networks, MaxLinear and First Interstate BancSystem have all shown better-than-expected stock earnings. Both focusing on internet infrastructure, Calix and MaxLinear are doing well since the announcement of the National Broadband Plan. First Interstate is a bank that is using the instant cash of an IPO to improve on their already-strong network.

Calix Networks specializes in equipment

Based in Petaluma, California, Calix Networks started trading on the NASDAQ exchange today under the ticker symbol CALX. Calyx designs and manufactures equipment that manages telephone, television, and internet fiber networks. Calix already has a large customer base, including CentryTel. Venture capital investors and private equity firms provided the $200 million start-up price of Calix. The $16 a share price is above and beyond what Calix had estimated for their IPO. Industry analysists say that Calix’s stock price will continue to improve.

Power-saving chips from MaxLinear

Carlsbad, California based MaxLinear also had their IPO today peform well. Trading on the NYSE as MXL, MaxLinear was last trading at about $18 a share. Various mobile devices have the processing chips that MaxLinear designs and manufactures. The battery life of various small devices can be extended with MaxLinear’s low-power chips. MaxLinear also raise initial start-up costs with quick payday loans through venture capital firms. One of probably the most hotly anticipated IPOs of the day, MaxLinear stocks quickly passed the $13 per stock estimates. Several consumer electronics, such as TVs, cell phones, and tablet PCs use MaxLinear’s chips.

Strong western banking at First Interstate

A regional bank’s IPO acted as the antidote to the high-technology offerings of Calix and MaxLinear. First Interstate BancSystem Inc. is a regional banking system with branches in Montana, South Dakota, and Wyoming. First Interstate is the first bank to go on the public market since July of 2007, and the stock quickly went to $16 a share. While other banks were closing doors, First Interstate was able to show improved net interest income and total assets. First Interstate is trading under the stock symbol FIBK.

Sources:

The Associated Press

Wall Street Journal

Red Herring

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