SAN
JOSE, Calif., May 29, 2024
/PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic"
or the "Company"), a developer of embedded FPGA (eFPGA) IP,
ruggedized FPGAs and Endpoint AI solutions, today announced that it
is set to join the broad-market Russell 3000® Index. This inclusion
will occur at the conclusion of the 2024 Russell US Indexes annual
reconstitution, effective at the open of US equity markets on
Monday, July 1st. The
announcement follows the preliminary list of additions that was
posted Friday, May
24th.
The annual Russell US Indexes reconstitution captures the 4,000
largest US stocks as of Tuesday, April
30th, ranking them by total market
capitalization. Membership in the US all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the small-cap Russell 2000® Index as well as the appropriate growth
and value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by objective, market-capitalization
rankings, and style attributes.
"Inclusion in the Russell 3000® Index is welcomed recognition of
QuickLogic's growth and financial performance driven by our
successful strategic transformation with the launch of our eFPGA IP
business model in 2020," said Brian
Faith, CEO of QuickLogic. "We remain extremely focused on
executing on our strategy and look forward to introducing
QuickLogic to a broader segment of the investment community through
our inclusion in this prominent index."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. According to the data as of the end
of December 2023, about $10.5 trillion in assets are benchmarked against
the Russell US indexes, which belong to FTSE Russell, a prominent
global index provider.
Fiona Bassett, CEO of FTSE
Russell, An LSEG Business, commented "Russell indexes–now in their
40th year–continue to evolve to reflect the dynamic US
economy. Annual rebalancing plays a vital role in establishing
accurate benchmarks, ensuring they correctly mirror their
designated market segments and remain unbiased in terms of size and
style."
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the "Russell Reconstitution" section
on the FTSE Russell website.
About FTSE Russell:
FTSE Russell is a
leading global provider of benchmarking, analytics, and data
solutions for investors, giving them a precise view of the market
relevant to their investment process. A comprehensive range of
reliable and accurate indexes provides investors worldwide with the
tools they require to measure and benchmark markets across asset
classes, styles, or strategies.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. For over 30 years,
leading asset owners, asset managers, ETF providers and investment
banks have chosen FTSE Russell indexes to benchmark their
investment performance and create ETFs, structured products, and
index-based derivatives.
FTSE Russell is focused on applying the highest industry
standards in index design and governance, employing transparent
rules-based methodology informed by independent committees of
leading market participants. FTSE Russell fully embraces the IOSCO
Principles, and its Statement of Compliance has received
independent assurance. Index innovation is driven by client needs
and customer partnerships, allowing FTSE Russell to continually
enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit
https://www.lseg.com/en/ftse-russell.
About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor
company that develops innovative embedded FPGA (eFPGA) IP, discrete
FPGAs, and FPGA SoCs for a variety of industrial, aerospace and
defense, edge and endpoint AI, consumer, and computing
applications. Our wholly-owned subsidiary, SensiML Corporation,
completes the end-to-end solution portfolio with AI / ML software
that accelerates AI at the edge/endpoint. For more information,
visit quicklogic.com.
QuickLogic and logo are registered trademarks of QuickLogic.
All other trademarks are the property of their respective holders
and should be treated as such.
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SOURCE QuickLogic Corporation