Bumper IPO crop up double-digits in U.S. market

NEW YORK, June 27 (Reuters) - A bumper crop of technology offerings were well received by investors in their market debut on Wednesday, with three of the four new issues jumping double digit percentages.

The shares of Data Domain Inc. (DDUP.O: Quote, Profile, Research, Stock Buzz), a disaster recovery and backup hardware firm, were up 44 percent at $21.60, or $6.60 above the company's $15 IPO price on Tuesday, in midday trading on the Nasdaq.

Another new issue, ComScore Inc. (SCOR.O: Quote, Profile, Research, Stock Buzz), which measures Internet usage and patterns, saw its shares rise 22.85 percent, or $3.77 higher than its $16.50 offering price on Tuesday. And the shares of Spreadtrum Communications Inc. (SPRD.O: Quote, Profile, Research, Stock Buzz), a Chinese designer of mobile phone chips, were trading up 17.2 percent, or $2.41 above its IPO price of $14.

A fourth technology IPO bucked the positive trend -- shares of AuthenTec Inc. (AUTH.O: Quote, Profile, Research, Stock Buzz), a company that also made its debut on Wednesday, fell $1.15, or 10.45 percent to $9.85.

The Melbourne, Florida-based company, which designs chips with fingerprint authentication sensors for PC and wireless customers, on Tuesday sold shares in its 7.5 million share offering for $11, at the high end of an $9 to $11 forecast range.

"Today's IPO action not only demonstrated the strength of the sector by their performances -- barring one deal, AuthenTec, that broke its offering price -- but also that each IPO that was priced was done at the high end or higher than their original filing range," said Scott Sweet, managing director of IPO research firm IPOboutique.com.

The mostly positive reception to these technology offerings comes on the heels of three others in early June -- Infinera Corp. (INFN.O: Quote, Profile, Research, Stock Buzz), Limelight Networks Inc. (LLNW.O: Quote, Profile, Research, Stock Buzz), both of which surged around 50 percent on their first day as public companies, and Starent Networks Corp. (STAR.O: Quote, Profile, Research, Stock Buzz), which gained 17 percent.

Simon Robinson, a research analyst at 451 Group, who followed the Data Domain IPO, said its performance "indicates that investors are once again willing to pay top dollar for explosive growth at technology companies."

And the good fortune that touched the trio of technology companies extended to an IPO from the energy sector. Units of Spectra Energy Partners LP (SEP.N: Quote, Profile, Research, Stock Buzz) traded higher on Wednesday, up 29.5 percent at $28.50, or $6.50 above the $22 it fetched in its Tuesday IPO.