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Rubicon Technology Grows with Increased Sapphire Demand

  +Follow April 1, 2014 10:55AM
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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
danrocks
21 Nov 14 18:47:52
Right now RBCN is number 57 for the largest percentage gain out of 250 stocks. $RBCN RBCN is up +15.09% in the http://t.co/uTjSnZdv6W
danrocks
21 Nov 14 18:47:30
$RBCN RBCN Stock is number 57 for the largest percentage gain out of 250 stocks. $RBCN RBCN is up +15.09% in the las http://t.co/LBy8g9ZxGo
Mark Trader
21 Nov 14 18:05:40
Thank you http://t.co/FOdvsRfk32! Your 5 pro traders are amazing. I would recommend the 14-day trial to anyone. $RBCN $AXAS $NTEK $BRWC
Dollar$mell
21 Nov 14 12:23:03
$RBCN solding
FonsieTrader
21 Nov 14 12:08:05
$RBCN Getting Higher into the close
scott CuDi taylor
21 Nov 14 10:36:31
out $RBCN @5.08 +.35 from 4.73
FonsieTrader
21 Nov 14 10:08:29
$RBCN Sweet
gordon gekko is god
21 Nov 14 09:49:56
RT @paulwoll: https://t.co/hKJaUCD7Hb $RBCN nice breakout today... could be on a turkey run to the red line next week (5.70ish)
Woll Street
21 Nov 14 09:45:20
$RBCN intraday 5-minute chart. https://t.co/VcNyR62yrr
Media Sentiment
21 Nov 14 09:45:20
$RBCN received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 259
Woll Street
21 Nov 14 09:44:46
https://t.co/hKJaUCD7Hb $RBCN nice breakout today... could be on a turkey run to the red line next week (5.70ish)
FonsieTrader
21 Nov 14 09:37:48
$RBCN HOD
HokieZ28
21 Nov 14 09:27:11
$RBCN still on radar for a bigger breakout
FonsieTrader
21 Nov 14 09:13:38
$RBCN That´s my girl http://t.co/1eLzIknTrM
Antonio Costa
21 Nov 14 08:37:50
$RBCN took profits 5.04 avg from 4.42 avg alert
FonsieTrader
21 Nov 14 06:33:00
$RBCN Perking up
FonsieTrader
21 Nov 14 05:35:04
Long Ideas for Today, November 21 $ATVI $CAS $CCJ $CIEN $KND $NGL $RBCN $SQM $WLH $RUBI http://t.co/1YC5kyy29J $STUDY
don
21 Nov 14 04:04:41
$RBCN - http://t.co/swc0hpIOMI http://t.co/116lTy3YlB #stockcharts
FonsieTrader
21 Nov 14 03:54:48
Long Ideas for Today, November 21 $ATVI $CAS $CCJ $CIEN $KND $NGL $RBCN $SQM $WLH http://t.co/n5nCsl79dZ #trading #money #Premarket #stocks
TickerChirp
21 Nov 14 02:29:04
Most Popular Tweets About $RBCN (Rubicon Technology Inc symbol RBCN) on 11/21/2014 http://t.co/hYmwA2ymaX
Jake13
21 Nov 14 01:42:25
RBCN Year to date has changed -50.25% percent. +17.58% in the last 30 days. $RBCN Rubicon Technology Full brea http://t.co/SveRdW1ylf
Jake13
21 Nov 14 01:42:02
$RBCN RBCN Year to date has changed -50.25% percent. +17.58% in the last 30 days. $RBCN Rubicon Technology Full brea http://t.co/JCVYMRFW22
chartguy89
21 Nov 14 01:16:50
RBCN 4.95 Rubicon Technology Stock Charts $RBCN Last Updated: 11/20/14 Last price: 4.95 Total volume: 451,798 http://t.co/fTbCzBeRyu
chartguy89
21 Nov 14 01:16:34
$RBCN RBCN 4.95 Rubicon Technology Stock Charts $RBCN Last Updated: 11/20/14 Last price: 4.95 Total volume: 451,798 http://t.co/Q6EvYMO3qa
equities.com
20 Nov 14 14:47:28
Rubicon Technology Inc. (RBCN) Jumps 6.91% on November 20 $RBCN http://t.co/D1ZDfy6sQ0
Mark Trader
20 Nov 14 14:45:50
Thank you http://t.co/FOdvsRfk32! Your 5 pro traders are amazing. I would recommend the 14-day trial to anyone. $RBCN $AXAS $NTEK $BRWC
Phil Martin
20 Nov 14 14:14:28
$RBCN http://t.co/j9idQeAGa3
ko
20 Nov 14 13:04:18
$URA added at the close $13.74 - daily, 4hr, 1hr lining up nicely... still holding $RBCN $CVV...
JP Morgains
20 Nov 14 12:56:47
LIGHT EMITTING DIODES! $RBCN
HokieZ28
20 Nov 14 12:50:37
$RBCN looks like it wants to run into the close
Nate Quinn
20 Nov 14 12:11:55
$RBCN bottom reversal should confirm soon, daily ppo signaling, 6 resistance and 7.50 gap fill area going forward http://t.co/Xwr7PBxViW
JarydPfeiffer
20 Nov 14 11:52:08
$RBCN break out 7.20 level.
ko
20 Nov 14 11:45:51
$RBCN nice... breakouts when at the gym... still holding
FonsieTrader
20 Nov 14 11:43:59
$RBCN Rocking
FonsieTrader
20 Nov 14 11:17:06
$RBCN Huge room to climb http://t.co/WUW2jzZT7x
scott CuDi taylor
20 Nov 14 11:15:51
$RBCN on the way to $5
HokieZ28
20 Nov 14 11:15:47
$RBCN looks like it's on the verge of major breakout
FonsieTrader
20 Nov 14 11:10:23
$RBCN Intraday break
Stock007
20 Nov 14 09:04:05
I normally detest penny stocks... but this $RBCN has the look of a 2, 3 or even 5 bagger to me...
danrocks
20 Nov 14 09:03:56
Right now RBCN is number 89 for the largest percentage gain out of 250 stocks. $RBCN RBCN is up +9.38% in the http://t.co/y6m3uIBiDy
FonsieTrader
20 Nov 14 08:59:47
$RBCN Kabooommm
Phil Martin
20 Nov 14 08:57:09
$RBCN Hod
ko
20 Nov 14 08:42:29
$RBCN thinking third times the charm to test $4.80
FonsieTrader
20 Nov 14 08:36:44
$RBCN Play attention here! it is about to break up its 50EMA! Can spikes higher above it http://t.co/YlPcNtL8NX
FonsieTrader
20 Nov 14 08:29:01
$RBCN Perking up
ko
20 Nov 14 08:07:11
$RBCN it's trying... clearing $4.80 would be just fine....
Phil Martin
20 Nov 14 08:05:04
$RBCN http://t.co/y3GOXvOVAF
Kevin Werries
20 Nov 14 08:04:57
$RBCN - if it ever gets any real volume on one of these spikes, it should explode...
US Banking News
20 Nov 14 06:22:54
Rubicon Technology Receives Consensus Hold Rating from Analysts $RBCN http://t.co/DdoG9zFrKq
Brian Channell
20 Nov 14 01:00:33
$RBCN Breakout long?. Setting up for long needs volume breaking 4.80 http://t.co/dHnsn7Ei6B
				
				
  +Follow April 1, 2014 10:55AM
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