Intersil Corp. today launched an initial public offering aimed at raising $500 million, believed to be the largest ever IPO for a U.S.-based semiconductor company.
The Palm Bay, Fla., company was formed in August 1999 when Harris Corp. divested its semiconductor operations. Intersil designs and manufactures analog, mixed-signal, power, and radiation-hardened devices.
The company is offering 20 million shares of common stock at $25 per share. The stock will traded on Nasdaq under the symbol ISIL.
In its most recent financial statement, Intersil reported operating income of $14.5 million on revenue of $158 million for the quarter ended Dec. 31.