Rubicon Technology (RBCN) Upgraded to Buy at ValuEngine

Rubicon Technology (NASDAQ:RBCN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

NASDAQ RBCN traded up $0.11 on Thursday, reaching $7.81. 2,300 shares of the company were exchanged, compared to its average volume of 7,883. Rubicon Technology has a fifty-two week low of $6.76 and a fifty-two week high of $9.46.

Rubicon Technology (NASDAQ:RBCN) last released its quarterly earnings data on Thursday, August 9th. The semiconductor company reported ($0.33) earnings per share for the quarter. The company had revenue of $0.80 million for the quarter. Rubicon Technology had a negative return on equity of 23.26% and a negative net margin of 154.73%.

A hedge fund recently raised its stake in Rubicon Technology stock. Ariel Investments LLC boosted its stake in shares of Rubicon Technology, Inc. (NASDAQ:RBCN) by 37.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,083 shares of the semiconductor company’s stock after buying an additional 58,936 shares during the period. Ariel Investments LLC owned 7.85% of Rubicon Technology worth $1,697,000 at the end of the most recent quarter. 36.49% of the stock is owned by institutional investors and hedge funds.

About Rubicon Technology

Rubicon Technology, Inc provides monocrystalline sapphire for applications in optical and industrial systems. It offers optical and industrial sapphire products in various shapes and sizes, including round and rectangular windows and blanks, domes, tubes, and rods for a range of end markets comprising defense and aerospace, specialty lighting, instrumentation, sensors and detectors, semiconductor process equipment, electronic substrates, medical, and laser applications.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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