Wednesday, May 2, 2007

Cavium Networks Prices IPO

Mountain View-based Cavium Networks has priced the firm's initial public offering, saying Wednesday that it will offer 6,750,000 shares of its common stock at $13.50 per share. The firm will be listed on the NASDAQ Global Market as CAVM, and will begin trading today. The IPO is being underwritten by Morgan Stanley & Co., Lehman Brothers, Thomas Weisel Partners, Needham & Company, and JMP Securities. Cavium Networks is a provider of semiconductors for the networking and communications market.