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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.

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Results for RBCN
20 Apr 15 13:18:23
$RBCN Rubicon Technology, Inc. Press Release: Rubicon Technology to Showcase Largest Sapphire Window Ever Pro From our Stock News Alerts App
Breaking News Now
20 Apr 15 13:05:10
$RBCN: Rubicon Technology to Showcase Largest Sapphire Window Ever ...: http://t.co/Aky2JsHVK1
20 Apr 15 04:07:21
$RBCN Rubicon Technology, Inc. Press Release: Rubicon Technology Will Report Results of First Quarter Operati From our Stock News Alerts App
20 Apr 15 04:05:04
$RBCN: Rubicon Technology Will Report Results of First Quarter Operations ...: http://t.co/QdYXVCzzcX
18 Apr 15 16:38:18
Stocks Trending Now: http://t.co/j1I70PbkX8 $CN $MRZLF $UL $VRTA $RBEIF $CYXP $BLCK $TRGAF $MTAGF $GWSO $RBCN $SDVI ~
john smith
17 Apr 15 14:25:14
$RBCN - Proxy Statement - Notice of Shareholders Meeting (preliminary) (pre 14a) http://t.co/bmFbLN6cvv
Stocks News&Markets
17 Apr 15 14:25:13
$RBCN - Proxy Statement - Notice of Shareholders Meeting (preliminary) (pre 14a) http://t.co/Yv93N7XTND
17 Apr 15 14:25:02
$RBCN: New SEC Filing for RBCN: Form PRE 14A (No. 0001193125-15-136130): http://t.co/WaLshraTWH
New SEC Filings
17 Apr 15 14:24:14
NEW SEC Filing for $RBCN filed a moment ago: http://t.co/pDzV06sLU1 http://t.co/q2x50lC4vq
16 Apr 15 10:51:30
$RBCN Green... Get Ready...
16 Apr 15 09:51:11
$RBCN is bouncing! stay tuned
16 Apr 15 05:16:18
WatchList for Thursday, April 16 $CAT $ANF $CHK $RBCN $HOV $ROSG http://t.co/XxmMcAiddW #stocks #trading #premarket
gordon gekko is god
15 Apr 15 14:35:40
Notable tech gainers: SWIR, UBNT, SONS, KEYW, VDSI, RBCN, ADTN http://t.co/rUh1ZVBtZJ $SWIR, $KEYW, $VDSI, $DSKY, $RBCN, $UBNT, $SONS, $ADTN
15 Apr 15 14:23:01
Trade Ideas for Thursday, April 16 $CAT $ANF $CHK $RBCN $HOV $ROSG http://t.co/avez3L0I8k #stocks #trading
Venky Srinivasan
15 Apr 15 14:22:59
"@FonsieTrader: Trade Ideas for Thursday, April 16 $CAT $ANF $CHK $RBCN $HOV $ROSG http://t.co/5w6jWHK0xd"
Clark Joseph Kent
15 Apr 15 12:37:52
Notable tech gainers: $SWIR $KEYW $VDSI $DSKY $RBCN $UBNT $SONS $ADTN http://t.co/u5fqj1PT9x
15 Apr 15 12:32:13
$RBCN very strong into the close
15 Apr 15 12:17:44
$RBCN Strong action! Shorts, be careful http://t.co/PLx0ZWecQE
15 Apr 15 10:14:18
$RBCN 9%
15 Apr 15 07:39:05
$RBCN $4 test
15 Apr 15 07:10:23
$RBCN nice bounce, at 20ma res
  +Follow April 1, 2014 10:55AM



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