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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
28 Jan 15 07:23:06
$WPX Financials Click Here: http://t.co/jBEw23T90H Also See: $KEYG $RBCN $ZVTK $JMIH ~
Christopher Angus
28 Jan 15 06:20:06
Stocks with strong multiple_bottom pattern: $OMEX, $RNN, $VISN, $RBCN
27 Jan 15 13:16:05
$RBCN: Rubicon Technology Will Report Results of Fourth Quarter ...: http://t.co/66rhZOFrpy
27 Jan 15 13:09:08
$RBCN Rubicon Technology, Inc. Press Release: Rubicon Technology Will Report Results of Fourth Quarter Operat From our Stock News Alerts App
Stocks News&Markets
27 Jan 15 13:05:28
$RBCN - Rubicon Technology Will Report Results of Fourth Quarter Operations on February 12, 2015 http://t.co/WFBdTGt97X
john smith
27 Jan 15 13:05:20
$RBCN - Rubicon Technology Will Report Results of Fourth Quarter Operations on February 12, 2015 http://t.co/j8Vplg8RMs
26 Jan 15 07:11:04
$RBCN: Stock in Focus: Rubicon Technology Inc. (NASDAQ:RBCN): http://t.co/PsnlSC1r24
26 Jan 15 07:09:13
$RBCN Nice bounce off resist. Back to 4.65.
Penny Stock Secret
25 Jan 15 23:24:52
This Guy Turned $100 into over $10,000 In Just 30 Days! http://t.co/vezCDY95do .. $GTLS $RBCN $ANDE
Greg David
25 Jan 15 10:23:45
I want to give http://t.co/m2LNLuLe8I a shout out. Banked 125% last week thanks to them. You guys rock! $RBCN $AXAS $NTEK $BRWC
24 Jan 15 21:32:39
chartguy89: 2015 Trending Stocks: RBCN +0.51% Stock Charts $RBCN Rubicon Technology http://t.co/RZxrVpKPjv
23 Jan 15 21:59:19
Stocks Trending Now: http://t.co/2RP342qvZt $RBCN $CNGA $CYOE $GRYN $BPT $WMIH $AFPW $MEITF $MIGA $GFSZY $NRTHF $CASG ~
23 Jan 15 11:21:03
$RBCN: Brokerage Firm Price Target on Rubicon Technology, Inc.: http://t.co/ssy8C6hiiW
23 Jan 15 00:51:37
22 Jan 15 16:55:06
$RBCN Tick Click Here: http://t.co/AnP2olFNud Also See: $LRTR $VNLDF $MDT $ALPXF ~
22 Jan 15 07:56:52
RT @lfburch: Many example of high valuation cos with -GMargins: $SCTY $RBCN $VSLR . $PLUG is WAY TOO cheap...
Rosner Stocks
22 Jan 15 05:18:53
Greg David
22 Jan 15 03:54:54
I want to give http://t.co/m2LNLuLe8I a shout out. Banked 125% last week thanks to them. You guys rock! $RBCN $AXAS $NTEK $BRWC
  +Follow April 1, 2014 10:55AM



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