GSI Technology to Join the Russell 2000® and Russell 3000® Indexes
July 01 2019 - 6:00AM
GSI Technology, Inc. (Nasdaq: GSIT), a leading
provider of memory solutions for the networking,
telecommunications, and military markets, and developer of Gemini®,
the Associative Processing Unit (APU) for artificial intelligence
applications, announced today that it has been added to the
small-cap Russell 2000® Index and the broad-market Russell 3000®
Index effective at the open of trading today, marking the annual
Russell U.S. Indexes reconstitution.
The annual reconstitution of the broad-market Russell Indexes
captures the largest U.S. stocks, ranking them by total market
capitalization. The largest 1,000 companies in this ranking
comprise the Russell 1000® Index and the next 2,000 companies
constitute the Russell 2000® Index, which together comprise the
Russell 3000® Index. Membership in the Russell 2000® Index
includes automatic inclusion in the appropriate growth and style
indexes, such as the Russell Microcap Index, which represents
small-cap and micro-cap stocks.
“We are excited to be joining the Russell 2000® and Russell
3000® Indexes, leading performance benchmarks for investment
managers and institutional investors,” said Lee-Lean Shu, GSI
Technology CEO. “We believe our inclusion represents an opportunity
to increase our market visibility and exposure to investors as we
continue to create shareholder value.”
Russell US Indexes are widely used by investment managers and
institutional investors as the basis for index funds and as
benchmarks for active investment strategies. Approximately $9
trillion in assets are benchmarked against Russell US Indexes.
Russell US Indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 2000® Index and the Russell
US Indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
ABOUT GSI TECHNOLOGY
Founded in 1995, GSI Technology, Inc. is a leading provider of
semiconductor memory solutions. GSI’s resources are currently
focused on bringing new products to market that leverage existing
core strengths, including radiation-hardened memory products for
extreme environments, and Gemini®, their first generation APU
designed to deliver performance advantages for diverse artificial
intelligence applications. GSI Technology is headquartered in
Sunnyvale, California and has sales offices in the Americas,
Europe, and Asia. For more information, please visit
www.gsitechnology.com.
About FTSE Russell
FTSE Russell is a leading global index provider creating and
managing a wide range of indexes, data and analytic solutions to
meet client needs across asset classes, style and strategies.
Covering 98% of the investable market, FTSE Russell indexes offer a
true picture of global markets, combined with the specialist
knowledge gained from developing local benchmarks around the
world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $16
trillion is currently benchmarked to FTSE Russell indexes. 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 investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
Forward-Looking StatementsThe statements
contained in this press release that are not purely historical are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding GSI Technology’s expectations, beliefs, intentions, or
strategies regarding the future. All forward-looking
statements included in this press release are based upon
information available to GSI Technology as of the date hereof, and
GSI Technology assumes no obligation to update any such
forward-looking statements. Forward-looking statements involve a
variety of risks and uncertainties, which could cause actual
results to differ materially from those projected. These
risks include those associated with the normal quarterly and fiscal
year-end closing process. Examples of risks that could affect
our current expectations regarding future revenues and gross
margins include those associated with fluctuations in GSI
Technology’s operating results; GSI Technology’s historical
dependence on sales to a limited number of customers and
fluctuations in the mix of customers and products in any period;
the rapidly evolving markets for GSI Technology’s products and
uncertainty regarding the development of these markets; the need to
develop and introduce new products to offset the historical decline
in the average unit selling price of GSI Technology’s products; the
challenges of rapid growth followed by periods of contraction; and
intensive competition; and delays or unanticipated costs that may
be encountered in the development of new products based on our
in-place associative computing technology and the establishment of
new markets and customer relationships for the sale of such
products. Further information regarding these and other risks
relating to GSI Technology’s business is contained in the Company’s
filings with the Securities and Exchange Commission, including
those factors discussed under the caption “Risk Factors” in such
filings.
Source: GSI Technology, Inc.
Contacts:GSI Technology, Inc.Douglas M.
SchirleChief Financial Officer408-331-9802
Investor Relations:Hayden IRKim Rogers385-831-7337
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