Transphorm, Inc. (NASDAQ:TGAN) — an innovative design pioneer and global supplier of efficient, high-reliability, high-performance gallium nitride (GaN) power conversion products, announced today that the Company is anticipated to join the FTSE Russell 2000® and Russell 3000® Indexes at the conclusion of the Russell US Indexes annual reconstitution, which takes effect after the US market closes today.
Primit Parikh, Transphorm’s President and Co-founder, commented, “Being added to the Russell 2000® and 3000® Indexes provides greater visibility and stature among institutional investors and signifies the value we are creating for our shareholders.”
Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® Index or the large-cap Russell 1000® 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.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $16 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell indexes and their reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.