CAMARILLO, Calif.--(BUSINESS WIRE)--Vitesse Semiconductor Corporation (Nasdaq: VTSS) announced that it joined the list of companies on the broad-market Russell 3000® Index as of June 27, when Russell Investments completed the 2014 reconstitution of its comprehensive U.S. and global equity indexes.
“Being added to this benchmark index is testament to the monumental work we’ve done to reinvent Vitesse and put the company on a clear growth trajectory,” said Chris Gardner, CEO at Vitesse. “Over the past 18-24 months, we’ve effectively increased Vitesse’s market capitalization by nearly 3x. We look forward to broadening our shareholder base with a wider range of institutions and investors.”
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Vitesse’s membership in the Russell 3000 remains in place for one year and means automatic inclusion in small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index.
Vitesse (Nasdaq: VTSS) designs a diverse portfolio of high-performance semiconductor solutions for Carrier, Enterprise and Internet of Things (IoT) networks worldwide. Vitesse products enable the fastest-growing network infrastructure markets including Mobile Access/IP Edge, Cloud Computing, SMB/SME Enterprise and IoT Networking.
Vitesse is a registered trademark of Vitesse Semiconductor Corporation in the United States and other jurisdictions. All other trademarks or registered trademarks mentioned herein are the property of their respective holders.