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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.

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
chartguy89
20 Dec 14 02:42:45
RBCN +1.27% Stock Charts $RBCN Rubicon Technology Inc. (NASDAQ) Last Updated: 12/20/2014 04:42:40 RBCN Stock C http://t.co/KdK0Y3qGXB
Greg David
19 Dec 14 23:40:30
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
TickerChirp
19 Dec 14 18:24:03
Leading Tweets for $RBCN (Rubicon Technology Inc symbol RBCN) on 12/20/2014 http://t.co/s8PChksX29
Greg David
19 Dec 14 12:54:35
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
Greg David
18 Dec 14 15:01:48
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
Greg David
17 Dec 14 12:53:09
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
ProTradersNews
17 Dec 14 06:18:03
$RBCN: Stock to Watch: Rubicon Technology Inc. (NASDAQ:RBCN) http://t.co/b88KZfbmbr http://t.co/1lISlZko5n
chartguy89
17 Dec 14 05:20:20
RBCN -5.15% Stock Charts $RBCN Rubicon Technology Inc. (NASDAQ) Last Updated: 12/17/2014 07:20:17 RBCN Stock C http://t.co/NxEayDhBKO
Chad Kusserow
16 Dec 14 08:51:47
Re: $RBCN- competitor Monocrystal in Russia will have just a slight pricing advantage vs. the industry...
ChiStocks
15 Dec 14 22:03:19
$RBCN Rubicon Technology Names William Weissman President and CEO | Seeking Alpha http://t.co/kbjZVhMosN via @salphatrending
ChiStocks
15 Dec 14 22:01:32
$RBCN Rubicon removes "interim" from CEO's title,... http://t.co/QaFjixYKm2
Briefing.com
15 Dec 14 15:27:51
$RBCN: Rubicon Tech names William Weissman to the permanent position of President and CEO http://t.co/ojvJeyHuGK
4-traders.com
15 Dec 14 14:25:05
RUBICON TECHNOLOGY : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K) http://t.co/1qq7c9bQMh $RBCN
Stocks News&Markets
15 Dec 14 14:22:18
$RBCN - Current Report Filing (8-k) http://t.co/YJuUTZmjF2
john smith
15 Dec 14 14:22:12
$RBCN - Current Report Filing (8-k) http://t.co/sdR9sHin7V
Instrumental Data
15 Dec 14 14:21:22
RUBICON TECHNOLOGY, INC. $RBCN 8-K now available
BV Technology
15 Dec 14 14:21:06
$RBCN Rubicon Technology, Inc files Form 8-K (Events or Changes Between Quarterly Reports) SEC Filing.. http://t.co/uVtigpY6ZP
Phillip Ray
15 Dec 14 13:52:22
RT @MarketCurrents: Rubicon removes "interim" from CEO's title, appoints CFO http://t.co/fT1hOuZ0nc $RBCN
StockNewsWires
15 Dec 14 13:49:11
$RBCN: Rubicon Technology Names William Weissman President and CEO http://t.co/8KJ9ddaqj4 http://t.co/cKFMOQi7QR
MarketCurrents
15 Dec 14 13:48:13
Rubicon removes "interim" from CEO's title, appoints CFO http://t.co/fT1hOuZ0nc $RBCN
ProVesting
15 Dec 14 13:43:05
$RBCN: Rubicon Technology Names William Weissman President and CEO http://t.co/NW61C06521 http://t.co/ySfp3aXhBs
$Stocknewsalerts
15 Dec 14 13:29:15
$RBCN Rubicon Technology, Inc. Press Release: Rubicon Technology Names William Weissman President and CEO From our Stock News Alerts App
john smith
15 Dec 14 13:28:14
$RBCN - Rubicon Technology Names William Weissman President and CEO http://t.co/7260scFRyW
Stocks News&Markets
15 Dec 14 13:28:12
$RBCN - Rubicon Technology Names William Weissman President and CEO http://t.co/2ai9cFMprG
equities.com
13 Dec 14 02:59:08
Rubicon Technology Inc. (RBCN) Drops 6.61% on December 12 $RBCN $RBCN $RBCN http://t.co/8wpSyJFqR9
				
				
  +Follow April 1, 2014 10:55AM
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