Semiconductor manufacturer LSI Logic, now part of Avago Technologies, issued its first stock to the public in May 1983, explains Funding Universe. On May 13, 1983, the stock opened at $23.99, rose to $24.5, but fell back to $23.99 by the close of the trading day, according to Yahoo Finance.Continue Reading
By the close of the trading day on May 16, 1983, over 4.7 million shares of LSI Logic stock had been traded, according to Yahoo Finance. However, the price of the stock never rose above $23.24, just a few points above its $23 opening price. In contrast, the stock sold for as much as $28.49 on July 8, 1983, although prices fell to $28.02 by the close of the trading day. Slightly over 151,000 shares were traded that day.
By 1985, LSI Logic controlled 40 percent of the American market for application-specific integrated circuits, explains Funding Universe. By the end of that year, sales amounted to $140 million, an increase from the $35 million in sales the company had achieved in 1983. However, from a high of $15.4 million in 1984, net income dropped to $10.1 million in 1985.
The decrease in net income did not adversely affect the company's stock price. While the stock was selling for $11.76 by the close of the trading day on Dec. 20, 1984, prices had risen to $22.49 by the end of the trading day on Dec. 20, 1985, according to Yahoo Finance. On May 6, 2015, the stock price was $11.14.Learn more about Investing