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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
Lu Ke
30 Aug 14 09:16:59
RT @ABradWilliams: $RBCN: Worth Watching Stocks - ValueVision Media Inc (NASDAQ:VVTV), Rubicon ... http://t.co/d9E2CmFG96 http://t.co/ETRAQ…
James P Worthy
29 Aug 14 11:31:05
$RBCN Rubicon Technology to Present at Investor Conferences http://t.co/Ldw6beVRb5
Research 2.0
29 Aug 14 06:33:53
$RBCN I took a quick look at this and can't get past the large *negative* gross margins in the biz. Sure it can improve.. to zero? No thx.
Dusti Burns
28 Aug 14 19:19:24
Falling Earnings $RBCN http://t.co/mEOkCIbS9j
Stocks in News
28 Aug 14 08:43:17
$RBCN: Worth Watching Stocks - ValueVision Media Inc (NASDAQ:VVTV), Rubicon ... http://t.co/d9E2CmFG96 http://t.co/ETRAQJw8BB
Romeo Fayette
28 Aug 14 08:40:07
"Programmatic advertising report: Real Time Bidding is taking-over the digital ad market" http://t.co/4dl7zT0l6h $$ $CRTO $FUEL $RBCN $AOL
Harry Walkman
28 Aug 14 08:31:16
$RBCN Falling Earnings Estimates Signal Weakness Ahead for Rubicon Technology ... http://t.co/hD7tKyg7oK
Samuel Brown
28 Aug 14 08:31:15
$RBCN Rubicon Technology, Inc. Reports Second Quarter 2014 Results of Operations http://t.co/CHb2lZd47N
Don Fishback
28 Aug 14 04:49:53
1 Day Increase in ATM IV (Point change) $WFT, $EXAS, $MBLY, $WFM, $RBCN http://t.co/7ONd2Az1py
28 Aug 14 04:49:53
1 Day Increase in ATM IV (Point change) $WFT, $EXAS, $MBLY, $WFM, $RBCN http://t.co/7TbsKU0I07
Stock News Updates
27 Aug 14 11:43:10
$RBCN: Rubicon Technology: 6-Inch Wafers, Prices, And Other Questions http://t.co/Zdj5Pp1Hxf http://t.co/YTsumcxMD9
TV_Trading Ideas
27 Aug 14 11:22:25
RBCN $RBCN http://t.co/lh2bMKy12d
Harry Walkman
27 Aug 14 11:01:14
$RBCN Rubicon Technology to Present at Investor Conferences http://t.co/huff22iNTX
Thomas J. Brennan IV
26 Aug 14 18:25:23
RUBICON TECHNOLOGY, INC. Financials $RBCN #sapphire @TJBrennanIV http://t.co/NL7VKqXziG
Alexander Morris
26 Aug 14 11:34:17
$RBCN: Exc 1WkHIGH=6.62, hits:1, Rng:8%, ch:+2.1%, 0phNearHi:BrkPLo+PHi[+202.3%], AtgPivH4, tf:3f, LowFlt[23.3M], HiPctSht[27%:10d]
Alexander Morris
25 Aug 14 07:57:04
$RBCN: Exc 1WkHIGH=6.58, hits:1, Rng:8%, ch:+5.1%, 8NewHi, 3mMv:+3, 49:5Accel+, tf:3f, LowFlt[23.3M], HiPctSht[27%:11d], DyVol:82T:0.4x:0.1x
Financial Updates
25 Aug 14 07:43:13
$RBCN: Rubicon Technology to Present at Investor Conferences http://t.co/2X3V55Ught http://t.co/U2Yr4QD4TS
25 Aug 14 06:39:24
Short Squeeze Alerts $EXAS $JCP $INSY $XONE $EPZM $KEYW $X $ARIA $RBCN http://t.co/vRTWxV5Spu
25 Aug 14 05:04:49
Bullish MACD Crossovers $AMH $AREX $RBCN $LIQD $JDSU $ERF $PETM $VEEV $VJET $Z $ZX $CPST and others ... http://t.co/6nwTKozpyk
  +Follow April 1, 2014 10:55AM



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