No Free Ride for Freescale Semiconductor

Motorola (MOT Quote) stunned a jaded Wall Street earlier this year with a barnburner first quarter. But with many investors awaiting more evidence on the cell-phone giant's turnaround, the question is whether Motorola's offspring, Freescale Semiconductor, can win support as it strikes out on its own.

In a regulatory filing Monday, the Austin, Texas-based chipmaker said it will issue 121.6 million shares priced between $17.50 and $19.50; Freescale plans to list on the New York Stock Exchange under the ticker "FSL."

The underwriting syndicate will be led by Goldman Sachs, Citigroup and J.P. Morgan. ...