NXP Semiconductors' initial public offering of at least 34 million shares priced at $14 (€10.63) a share on Thursday, well below the expected price range of $18 to $21.

The US IPO market has been rocky lately, with a slew of companies cutting their prices or pricing below their expected ranges, though strong debuts pop up sporadically. IPOs have resumed a steadier pace after a surge in volatility unnerved companies slated to go public.