QuickLogic Corporation (NASDAQ: QUIK) shares were positive Wednesday, as the San Jose-based 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 U.S. Indexes annual reconstitution, effective at the open of U.S. equity markets on Monday, July 1. The announcement follows the preliminary list of additions that was posted Friday, May 24.
The annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of Tuesday, April 30, ranking them by total market capitalization. Membership in the U.S. 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."
QUIK shares grabbed 23 cents to open trading Wednesday at $13.48.
Related Stories
