UBS AG Lowers Rubicon Technology Price Target to $5.50 (RBCN)
Equities researchers at UBS AG cut their price objective on shares of Rubicon Technology (NASDAQ:RBCN) from $7.00 to $5.50 in a research report issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “sell” rating on the stock. UBS AG’s price objective indicates a potential downside of 51.75% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Rubicon Technology in a research note to investors on Thursday, August 8th. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Rubicon Technology in a research note to investors on Thursday, June 27th. They now have a $12.00 price target on the stock, up previously from $10.00. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Rubicon Technology from an “overweight” rating to a “market perform” rating in a research note to investors on Wednesday, June 26th.
Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.64.
Shares of Rubicon Technology (NASDAQ:RBCN) traded down 0.35% on Thursday, hitting $11.40. The stock had a trading volume of 474,472 shares. Rubicon Technology has a 52-week low of $4.83 and a 52-week high of $11.81. The stock has a 50-day moving average of $8.91 and a 200-day moving average of $7.31. The company’s market cap is $258.0 million.
Rubicon Technology (NASDAQ:RBCN) last released its earnings data on Wednesday, August 7th. The company reported ($0.26) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.21) by $0.05. The company had revenue of $10.60 million for the quarter, compared to the consensus estimate of $10.82 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 38.2% on a year-over-year basis. Analysts expect that Rubicon Technology will post $-0.75 EPS for the current fiscal year.
Rubicon Technology, Inc manufactures synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.