Here is an update from CBS Marketwatch:
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August Technology
August Technology opened at 15 1/4, well above its $12 price. The stock
picked up steam in the aftermarket and rose to 16 9/16 on volume of 2.6
million shares.
The company priced at the bottom end of its range as the semiconductor
equipment maker readied its Wall Street debut.
The Bloomington, Minn., firm (AUGT: news, msgs) priced at $12 per
share, the bottom of its $12-to-$14 price range. But unlike many IPOs of
late, August Technology made it to the eve of its IPO without having to
cut the estimated price range for its IPO. It also boosted the size of its
offering by 300,000 shares.
It?s raising $40 million with lead underwriter Needham & Co. by selling
3.3 million shares.
Boosting the company?s prospects is overall health in the chip sector, plus
August Technology?s automated inspection systems help speed up the
manufacturing process.
?We believe this firm is positioned with the right products at the right
time,? said Irv DeGraw of WorldFinanceNet.com.
He pointed out that one competitor, Robotic Vision Systems (ROBV:
news, msgs), is trading near its 52-week high.
August Tech has turned a profit and has seen strong revenue growth. But
new production facilities have bitten into gross margins.
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Tom B. |
