Chip maker MaxLinear shares soar in IPO debut after pricing above expectations, raising $89.6M

Chip maker MaxLinear shares soar in IPO debut

NEW YORK — Shares of MaxLinear are soaring in the chip maker’s IPO debut after it priced its initial public offering above expectations, raising $89.6 million.

It’s the second company this year to do so, following portfolio manager and advisory firm Financial Engines Inc. last week. Gradual improvements in the stock market are helping open the window for IPOs after a rocky start to the year, analysts say.

MaxLinear Inc. shares shot up $4.30, or 30.7 percent, to $18.30 in early morning trading.

The Carlsbad, Calif., company makes chips used for broadband video in PCs, phones, TVs and other electronics.

It is trading on the New York Stock Exchange under the ticker symbol “MXL.”