AUSTIN, Texas " SigmaTel, Inc., a fabless company based here which specializes in mixed-signal audio chips, will offer 10 million shares today (Sept. 19) in an initial public offering that may be timed well.
SigmaTel's IPO is the seventh high tech IPO this year, and all have been considered successful thus far, bolstered by rising confidence in the U.S. economy. The timing is considered good, as SigmaTel turned a small profit on first half 2003 sales of $32.5 million.
Merrill Lynch & Co., the IPO's underwriters, pegged the stock price at $15, which means the company could raise $150 million from the IPO. The company will trade on the Nasdaq exchange as SGTL.
SigmaTel designs and markets mixed-signal ICs that are used in personal computers, MP3 and DVD players, digital televisions, and other digital consumer products.