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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
John Michael
1 Oct 14 12:25:58
RT @SeekingAlpha: Key Announcements Represent Big Wins For Rubicon http://t.co/1aZciHOiNL $AIXG $VECO $RBCN
Seeking Alpha
1 Oct 14 12:19:10
Key Announcements Represent Big Wins For Rubicon http://t.co/1aZciHOiNL $AIXG $VECO $RBCN
1 Oct 14 08:35:56
Potential Runners | Momentum Trading with RaginCajun http://t.co/DNf3M3eypE $HK , $FRO, $TRUE, $MM, $EGY, $RBCN
rich rich
1 Oct 14 08:07:45
Nate Quinn
30 Sep 14 19:56:19
If led demand is getting stronger $RBCN should be great value play. Ubs expected breakeven in 2015 based on demand projections this spring
30 Sep 14 17:17:49
Rubicon Technology Inc. (RBCN) Drops 7% on September 30 $RBCN http://t.co/QVpt4X9IVE
Antonio Costa
30 Sep 14 12:43:53
$RBCN failed the follow through... :( will add a stop at 4.12 ..just in case... http://t.co/D6wJdbJKoD
Trade Alerts
30 Sep 14 02:56:22
Antonio Costa
29 Sep 14 22:47:15
$RBCN Nice Bullish candle on Monday and we should expect to see a follow-through tomorrow. Res 4.67 http://t.co/s8n0pYG4Lt
29 Sep 14 20:53:28
RT @bangersnpip: Stock Watchlist 30 September: $AMPE $IMMU $NQ $PQ $ARC $CCRN $CYTX $RBCN $TGS #stocks #charts #trading http://t.co/SuHd0BC…
Trade Under Ten
29 Sep 14 19:34:32
Stock Watchlist 30 September: $AMPE $IMMU $NQ $PQ $ARC $CCRN $CYTX $RBCN $TGS #stocks #charts #trading http://t.co/SuHd0BCU3P
29 Sep 14 16:29:05
Rubicon Technology Inc. (RBCN) Hits New 52-week Low During September 29 Session $RBCN http://t.co/oEdGDI14yi
29 Sep 14 15:10:30
Rubicon Technology Inc. (RBCN) Jumps 6.28% on September 29 $RBCN http://t.co/HzKCcZGeNi
Tech Alerts
29 Sep 14 14:00:05
Rubicon Technology Trading At 55% Of Book: Time To Buy http://t.co/edOpjV6Cd0 $RBCN
Nate Quinn
29 Sep 14 12:50:42
$RBCN, up about 5% today, maybe today is day 1 of bounce, worth watching tomorrow for continuation
Media Sentiment
29 Sep 14 10:00:08
$RBCN received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 308
Analyst Ratings
29 Sep 14 09:56:49
Want the latest upgrades & downgrades for $ORN $ITG $DFT $RBCN $SJW? Checkout ARN Daily http://t.co/nSJuDsYidj
29 Sep 14 09:01:29
$RBCN Rocking
Large Void Bot
29 Sep 14 09:00:10
Daily Reversal (12:00): $RBCN Last: 4.64; pHigh: 4.62; rVol: 1.854; pClose: 4.30; LOD: 4.2600; Perf: 7.9%
29 Sep 14 08:40:04
$RBCN Kabooommm
Antonio Costa
29 Sep 14 08:38:32
There goes $RBCN
Antonio Costa
29 Sep 14 08:32:25
Watch $RBCN over 4.55 next stop 5-5.1
29 Sep 14 08:09:52
$RBCN Rumors of potential takeover! keep closely http://t.co/Dd8wCVDBjj
29 Sep 14 08:08:32
$RBCN trying
Antonio Costa
29 Sep 14 08:07:29
Added $RBCN 4.51
29 Sep 14 08:02:46
Potential Intraday Runners | http://t.co/qGN35zzyb1 $SUNE, $PLUG, $NQ, $CLVS, $SHLD, $DVAX, $YOD, $NSM, $RBCN, $GWPH, $EVRY
Large Void Bot
29 Sep 14 06:35:19
New 52wk Lows: $RBCN
28 Sep 14 23:10:43
Rubicon Technology : Updates on Management Changes http://t.co/PrampQrOT8 $RBCN
Trade Alerts
28 Sep 14 15:53:50
Alex Rubalcava
27 Sep 14 15:55:37
You could have done really well this year just shorting stocks with the word “Rubicon” in their names. $RBY $RBC.NZ, $RBCN, $RUBI
27 Sep 14 03:55:51
Rubicon Technology Inc. (RBCN) Hits New 52-week Low During September 26 Session $RBCN http://t.co/z2fWX0QoKo
Sophie Tam
26 Sep 14 20:17:20
RT @SeekingAlpha: Rubicon Technology Trading At 55% Of Book: Time To Buy http://t.co/7PHQOSFCm2 $RBCN
Ron Aditya
26 Sep 14 20:02:48
RT @SeekingAlpha: Rubicon Technology Trading At 55% Of Book: Time To Buy http://t.co/7PHQOSFCm2 $RBCN
26 Sep 14 18:18:26
RT @SeekingAlpha: Rubicon Technology Trading At 55% Of Book: Time To Buy http://t.co/7PHQOSFCm2 $RBCN
Seeking Alpha
26 Sep 14 18:06:28
Rubicon Technology Trading At 55% Of Book: Time To Buy http://t.co/7PHQOSFCm2 $RBCN
26 Sep 14 13:06:05
Rubicon Technology Reaches New 1-Year Low at $4.33 $RBCN http://t.co/fAeIVBmL3B
US Banking News
26 Sep 14 12:58:48
Rubicon Technology Reaches New 1-Year Low at $4.33 $RBCN http://t.co/nIKdqknN6L
Large Void Bot
25 Sep 14 06:44:12
New 52wk Lows: $BALT $RBCN
Large Void Bot
24 Sep 14 06:36:12
New 52wk Lows: $ESI $ONE $RBCN
  +Follow April 1, 2014 10:55AM



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