GCT Joins Small-Cap Russell 2000® Index and
Other Growth and Value Style Indexes
GCT Semiconductor Holding Inc. (“GCT” or the “Company”) (NYSE:
GCTS), a leading designer and supplier of advanced 5G and 4G
semiconductor solutions, today announced its addition to the
Russell 3000® Index as part of the annual Russell reconstitution,
effective as of the open of US equity market today on July 1,
2024.
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 for GCT in the small-cap Russell 2000® Index as well as
the appropriate growth and value style indexes.
“The inclusion in the Russell 2000® Index is a testament to
GCT’s successful listing on the NYSE and an important component for
us to reaching a wider investor base,” said John Schlaefer, CEO of
GCT.
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.
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 GCT Semiconductor Holding, Inc.
GCT is a leading fabless designer and supplier of advanced 5G
and 4G LTE semiconductor solutions. GCT’s market-proven solutions
have enabled fast and reliable 4G LTE connectivity to numerous
commercial devices such as CPEs, mobile hotspots, routers, M2M
applications and smartphones, etc., for the world’s top wireless
carriers. GCT’s system-on-chip solutions integrate radio frequency,
baseband modem and digital signal processing functions, therefore
offering complete 4G and 5G platform solutions with small form
factors, low power consumption, high performance, high reliability,
and cost-effectiveness. For more information, visit
www.gctsemi.com.
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.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1955. These forward-looking
statements include, without limitation, statements regarding GCT’s
investment base. Words such as "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," "will be,"
"will continue," "will likely result," and similar expressions are
intended to identify such forward-looking statements.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
significant risks and uncertainties that could cause the actual
results to differ materially from the expected results. Most of
these factors are outside the Company's control and are difficult
to predict. Factors that may cause actual future events to differ
materially from the expected results, include, but are not limited
to: the ability of the Company to develop its 5G products and
generate revenue; the ability of the Company to grow and manage
growth profitability and retain its key employees; the Company's
financial and business performance, including the Company's
financial projections and business metrics; changes in the
Company's strategy, future operations, financial position,
estimated revenues and losses, forecasts, projected costs,
prospects and plans; the Company's inability to anticipate the
future market demands and future needs of its customers; the impact
of component shortages, suppliers' lack of production capacity,
natural disasters or pandemics on the Company's sourcing operations
and supply chain; the Company's future capital requirements and
sources and uses of cash; the ability of the Company to raise
sufficient capital to fund its operations; the ability to implement
business plans, forecasts, and other expectations, including the
growth of the 5G market; the risk of economic downturns that
affects the Company's business operation and financial performance;
the risk that the Company may not be able to develop and design its
products acceptable to its customers; actual or potential conflicts
of interest of the Company's management with its public
stockholders; and other risks and uncertainties indicated from time
to time in the registration statement on Form S-1, and Form 10-Q
filed with the SEC, including those under the "Risk Factors"
section therein and other filings with the SEC. The foregoing list
of factors is not exhaustive. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and the Company
assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240701325879/en/
- Investor relations website: investors.gctsemi.com
- Investor relations contact: Gateway Group, Matt Glover
& Ralf Esper, GCT@gateway-grp.com
- Media contact: Sophie Heerinckx,
sheerinckx@gctsemi.com
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