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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.

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Results for RBCN
Breaking News Now
22 May 15 15:54:10
$RBCN: TRADINGALERT: The Rosen Law Firm Reminds Rubicon ...: http://t.co/8BOZljotZj
john smith
22 May 15 15:52:03
$RBCN - TRADINGALERT: The Rosen Law Firm Reminds Rubicon Technology, Inc. Investors of the Important Class http://t.co/MnapmlgaEB
dailystockplays.com
22 May 15 14:56:03
Below Keltner http://t.co/pLMZXfwN2R $BBD $ITUB $AU $CCJ $KSU $FXEN $EZPW $NIO $BDORY $RBCN $RGSE $NEA $RAIL $WILN $CAMT $MYD $FHCO $KONA
Class Actions News
22 May 15 08:10:04
$RBCN accused of hiding bad news to complete 2ndary stock sale for entity controlled by sitting director #CORPGOV http://t.co/WArT2v9fFw
Daily Contracts
22 May 15 07:27:06
Real-Time feed of company contracts, original agreements and executive updates from $RBCN http://t.co/I6goiAdzdS
Emylers
20 May 15 18:49:35
RBCN Stock 3.03 Rubicon Technology $RBCN Hit a 52 week low of 3.00 Closing the day 05/20/15 at 3.03 -0.02 -0.6 http://t.co/YvnWT5j0Ud
Small Cap Strategist
20 May 15 18:31:32
Small-cap stocks with declining money flows, Wed May 20th - $AMBR $RBCN $RJET $SCMP $VTL $PFPT - More: http://t.co/1znvSOIJVT - #smallcap
Analyst Ratings
20 May 15 14:12:00
Get the latest ratings for $RBCN $SJW $GPRO $LVS $SLM in your inbox with ARN Daily http://t.co/nSJuDsYidj
ProTradersNews
20 May 15 07:03:04
$RBCN: Investor filed Lawsuit against Rubicon Technology, Inc. (NASDAQ ...: http://t.co/cvDWtPdQWb
MorganSecLaw
20 May 15 05:00:16
$RBCN accused of hiding bad news to complete 2ndary stock sale for entity controlled by sitting director #CORPGOV http://t.co/irhs8br3eB
Stocks News&Markets
19 May 15 08:37:08
$RBCN - SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Rubicon Technology, Inc. of Pendency http://t.co/7a2pQMG4nS
john smith
19 May 15 08:37:05
$RBCN - SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Rubicon Technology, Inc. of Pendency http://t.co/WCq8YNeMAv
Daily Contracts
19 May 15 07:17:03
Real-Time feed of company contracts, original agreements and executive updates from $RBCN http://t.co/I6goiAdzdS
lookn4wins
18 May 15 14:11:07
JLWT Prev Close Click Here -> http://t.co/oWMrxGKiZk Trending $JLWT $MGR $RBCN $DFTA #JLWT #stocks #tradeideas
Class Actions News
18 May 15 09:47:08
$RBCN accused of hiding bad news to complete 2ndary stock sale for entity controlled by sitting director #CORPGOV http://t.co/WArT2v9fFw
john smith
18 May 15 06:13:40
$RBCN - Law Offices of Marc S. Henzel Announces Securities Class Action Periods http://t.co/VEELZoLlkc
Stocks News&Markets
18 May 15 06:13:36
$RBCN - Law Offices of Marc S. Henzel Announces Securities Class Action Periods http://t.co/0XQbQ3WLND
EnergyBasis
17 May 15 19:05:29
Long opportunities: $SRT $RBCN $VNET $AMBR $VLTC $TARI and $SGI #stockstudies #technician @MikeDDKing @SquawkCNBC @sccdata @chartly
WKRB News
17 May 15 17:44:25
Rubicon Technology Receives $6.25 Average PT from Brokerages $RBCN http://t.co/pH5dVCwL9W
StockNewsWires
17 May 15 17:33:02
$RBCN: Rubicon Technology Receives $6.25 Average PT from Brokerages ...: http://t.co/O3TdlKNMAl
Follow The Money
17 May 15 09:10:00
$RBCN: Rubicon Technology Receives $6.25 Consensus Target Price. 36% Downside Seen.
Breaking News
17 May 15 09:04:01
$RBCN: Rubicon Technology Receives $6.25 Consensus Target Price from ...: http://t.co/ZINYXJHWs6
Sleek Money
17 May 15 09:01:21
Rubicon Technology Receives $6.25 Consensus Target Price from Brokerages $RBCN http://t.co/BXeX8p1T4S
MorganSecLaw
17 May 15 05:17:27
$RBCN accused of hiding bad news to complete 2ndary stock sale for entity controlled by sitting director #CORPGOV http://t.co/irhs8br3eB
Class Actions News
15 May 15 08:10:13
$RBCN accused of hiding bad news to complete 2ndary stock sale for entity controlled by sitting director #CORPGOV http://t.co/WArT2v9fFw
Stock Forums
15 May 15 02:26:09
FNCB Stock Forum Click Here -> http://t.co/3Ro6SB5bYG Trending $FNCB $RBCN $MHF $CPYYF #FNCB #stocks #stocks
DailyStockPicks
14 May 15 23:33:18
Second Sight $30 target after strong Q1 financial results. 159% revenue growth YoY $RBCN $WLDN $COKE investors read http://t.co/kuh3t64LGK
nasdaqfan
14 May 15 23:19:07
SFWJ 52Wk High Click Here -> http://t.co/c4fMz62GcS Trending $SFWJ $ANGYF $PAYM $RBCN #SFWJ #share #invest
				
				
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