Shares in Entropic Communications Inc. climbed 23 percent to close at $7.40 on Dec. 7, their first day of trading.
The company raised $41.3 million in its initial public offering late Dec. 6, selling 8 million shares at $6 apiece. The balance of the sale proceeds went toward fees and expenses.
Shares went out at the low end of the $6 to $8 range Entropic forecast. Previously, the company wanted to sell shares in the $9 to $11 range.
Entropic makes semiconductors for home networking.
Underwriters were Credit Suisse Securities, Lehman Brothers Inc., Thomas Weisel Partners, JMP Securities and ThinkEquity Partners.
Entropic trades on Nasdaq as ENTR.
, Brad Graves