Business
Richardson Electronics Set to Join Russell 3000® Index
LAFOX, Ill., May 23, 2023 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL) is set to join the broad-market Russell 3000® Index at the
About this update from Richardson Electronics, Ltd.
[{"type":"text","content":"LAFOX, Ill., May 23, 2023 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL) is set to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes 35th annual reconstitution, effective after the U.S. market opens on Monday, June 26, 2023, according to a preliminary list of additions posted May 19. Ed Richardson, Chairman and Chief Executive Officer states, “Richardson Electronics’ inclusion in the 2023 Russell 3000® index reflects the success of our strategic plan and the commitment of our employees throughout the world. Over the past 12 months, we have produced significant revenue and earnings growth as we capitalize on new market opportunities and execute against our key growth initiatives. An important driver of our accomplishments is the progress we are making growing our Green Energy Solutions (“GES”) business to support an expanding list of alternative energy, electric vehicles, and green manufacturing customers. The addition of Richardson Electronics into the Russell 3000® Index marks a significant milestone in our journey, and we remain committed to creating long-term value for our shareholders.” Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, 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 large-cap Russell 1000 Index or 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. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 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 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website. ABOUT RICHARDSON ELECTRONICS, LTD. Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion an...