GigPeak, Inc. Added to the Russell 3000 Index® and Russell Global Index®
SAN JOSE, Calif.–(BUSINESS WIRE)–Jun. 27, 2016– GigPeak, Inc. (NYSE MKT:GIG), a leading innovator of semiconductor ICs and software solutions for high-speed connectivity and high-quality video compression over the Network and the Cloud, announced that effective today it has joined the broad-market Russell 3000® Index and Russell Global Index®, according to the final list of additions posted on www.ftserussell.com. GigPeak’s addition to the Russell 3000® Index, also means automatic inclusion in the small-cap Russell 2000® Index.
“We are pleased that our shares are now included in the Russell 3000 Index® and Russell Global Index®. This achievement is a direct reflection of consistent improvement in our financial performance over several years. Inclusion in these indexes should increase GigPeak’s visibility with investors, and potentially lead to a broader shareholder base during a period when we expect continued financial improvement,” said Dr. Avi Katz, Founder, Chairman and CEO of GigPeak, Inc. “Looking forward, through the recent acquisition of Magnum Semiconductor, we have a broader product portfolio that will increase the size of our addressable markets. We expect the greater scale in our business will lead to record annual revenue and margin performance in fiscal 2016.”
Indexes provided by FTSE Russell, a leading global index provider, are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $6 trillion in assets are benchmarked against the Russell US indexes.
About GigPeak, Inc.
GigPeak, Inc. (NYSE MKT: GIG) is a leading innovator of semiconductor ICs and software solutions for high-speed connectivity and high-quality video compression over the Network and the Cloud. The focus of the company is to develop and deliver products that enable lower power consumption and faster data connectivity, more efficient use of network infrastructure, broader connectivity to the Cloud, and reduce the total cost of ownership of existing network pipes from the core to the end user. GigPeak addresses both the speed of data transmission and the amount of bandwidth the data consumes within the network, and provides solutions that increase the efficiency of the Internet of Things, leveraging its strength in high-speed connectivity and high quality video compression. The extended product portfolio provides more flexibility to support changing market requirements from ICs and MMICs through full software programmability and cost efficient custom ASICs.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the effect of inclusion in the Russell 3000 Index®, the impact of the acquisition of Magnum Semiconductor and expected financial performance. These statements are based on management’s current expectations. Such statements contain words such as “will,” and “expect,” or the negative thereof or comparable terminology. Forward-looking statements involve certain risks and uncertainties, and actual results and the timing of events may differ materially from those discussed or implied in any such statement. These risks include, but are not limited to the market conditions and other risks related to the Company’s business and operations as are discussed under the heading “Risk Factors” and in other sections of the Company’s filings with the SEC, and in the Company’s other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
Source: GigPeak, Inc.
Darrow Associates, Inc.
Jim Fanucchi, 408-404-5400