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Rubicon Technology Grows with Increased Sapphire Demand

  +Follow April 1, 2014 10:55AM
Tickers Mentioned:

All it took was a vote of confidence from JPMorgan Chase and Co. (JPM) to get Rubicon Technologies (RBCN) above a $300 million valuation and thus pushing the stock into the commonly held definition of “small-cap” status.

In their analyst note, JPMorgan notched Rubicon from Neutral to Overweight, and raised their price target on the stock from $12 to $14 a share. Analyst Paul Coster noted the company’s “sapphire” growth crystal technology, a major part of LED industry, was due for a big ramp-up as demand increases for wearable tech. He wrote, "Ramping demand for LEDs and sapphire covers used in smartphones and wearable CE devices should drive strong sales of sapphire cores, wafers, and specialized optical components for the industrial sapphire market and for Rubicon, leading to a recovery in gross margins and a return to net profit in late 2014, followed by a strong earnings recovery in 2015.”

Rubicon also received a vote of confidence from UBS, who maintained a Neutral rating on the stock but raised their price target from $9.50 to $12 a share. And on March 18th, analysts at Davidson raised their price target on shares of Rubicon from $13 to $17 a share.

Rubicon is slowly climbing back up the charts after deflating in 2011, where the company saw shares more than halved, as the company reversed a string of earnings beats in 2010 with a plunge into the red. The company has consistently been losing money, although the growing revenues from increased sapphire shipments should mitigate the size of the loss, if not possibly bring the company back to the black.

By midday trading, Rubicon had gained 14.18 percent to hit $12.89 a share. They're up 92.4 percent from the April 1 of last year.

With the day's rise, Rubicon now sports a valuation of $332.37 million. Volume was heavy, with over 1.3 million shares moved by 2pm against an average daily volume under 800,000.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for RBCN
Hernan Banato
18 Sep 14 12:32:57
$RBCN Great opportunity, tomorrow this will blow out!...make your moves!
Large Void Bot
18 Sep 14 10:07:10
13:07 Pops: $RBCN +4.3%
18 Sep 14 10:07:07
$RBCN quick rinse to the Feb 13 low of 4.83
Large Void Bot
18 Sep 14 10:05:12
New 52wk Lows: $RBCN
Large Void Bot
18 Sep 14 10:05:10
13:05 Drops: $RBCN -8.1%
Great Stockpix
18 Sep 14 10:04:48
$RBCN slammed
18 Sep 14 10:04:06
BLOCK TRADE: $RBCN 338,415 shares @ $5.10 [13:04:05]
18 Sep 14 10:02:36
$RBCN - Raja Parvez of Rubicon Technology, Inc. (NASDAQ:RBCN) To Step Down As The CEO of the Company - http://t.co/zBM4veLYGz
18 Sep 14 02:13:59
Rubicon Technology Inc. (RBCN) Hits New 52-week Low During September 17 Session $RBCN http://t.co/34MTFRxxSu
17 Sep 14 10:58:09
$RBCN had a good run up!! just like i called yesterday, you got to keep an eye on the alerts in order to make money!!! BECOME RICH!!
Nigam Arora
17 Sep 14 08:52:46
Stocks to Buy
17 Sep 14 07:28:26
Top #Stocks Wednesday - $AUXL $NETE $NYNY $VLTC $CHYR $YRCW $HUSA $CTIC $NVTL $RADA $IMUC $APOG $X $RYI $RBCN - http://t.co/NTLpLch4MK
Mook Trader
17 Sep 14 07:17:08
$RBCN squeezing
17 Sep 14 07:10:02
Rubicon Technology : Announces Change in Executive Leadership http://t.co/VhxhLX9ons $RBCN
17 Sep 14 07:05:07
$RBCN Rubicon Technology, Inc. Press Release: Rubicon Technology Announces Change in Executive Leadership From our Stock News Alerts App
VisualStock Resource
17 Sep 14 07:01:22
$RBCN - Rubicon Technology Announces Change in Executive Leadership http://t.co/HBIIvCundC
BV Technology
17 Sep 14 07:01:17
$RBCN Rubicon Technology Announces Change in Executive Leadership.. http://t.co/UIkJfT7I6r
john smith
17 Sep 14 07:01:09
$RBCN - Rubicon Technology Announces Change in Executive Leadership http://t.co/SaTWbeNSLX
17 Sep 14 04:34:18
Bearish MACD Crossovers 2/2 $MASI $MTG $NPSP $PBCT $RBCN $RCL $RENN $RYAM $SC $SYNA $TASR $TEL $TSL $TTWO $WWW $ZTS http://t.co/NhD8LmoBln
17 Sep 14 04:14:03
#aandelen enkele nieuwe lows voor $VHC $SHLD $RBCN Check - http://t.co/1WQWPC4ENz
16 Sep 14 20:30:51
$RBCN downtrend wedge formation lets keep an eye here possible price correction very soon! let's make money!! https://t.co/VJzHl5Af5L
16 Sep 14 20:24:40
$RBCN downtrend wedge formation lets keep an eye here possible price correction very soon! let's make money!! http://t.co/0PKEwkPhgH
16 Sep 14 16:29:27
Rubicon Technology Inc. (RBCN) Drops 7.47% on September 16 $RBCN http://t.co/hARMXslPvr
Ticker Report
16 Sep 14 12:59:33
Rubicon Technology Hits New 52-Week Low at $5.35 $RBCN http://t.co/7kyYdpVogw
US Banking News
16 Sep 14 12:49:36
Rubicon Technology Hits New 52-Week Low at $5.35 $RBCN http://t.co/hBC1frzQfn
15 Sep 14 22:10:45
Rubicon Technology Inc. (RBCN) Drops 5.39% on September 15 $RBCN http://t.co/kYsazjsnYt
  +Follow April 1, 2014 10:55AM



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