Rubicon Technology Price Target Increased to $15.00 by Analysts at Canaccord Genuity (RBCN)
Canaccord Genuity lifted their price objective on shares of Rubicon Technology (NASDAQ:RBCN) from $12.00 to $15.00 in a research note issued on Tuesday, American Banking News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target would indicate a potential upside of 34.65% from the company’s current price.
Rubicon Technology (NASDAQ:RBCN) traded down 8.01% on Tuesday, hitting $11.14. 791,394 shares of the company’s stock traded hands. Rubicon Technology has a 1-year low of $4.83 and a 1-year high of $13.78. The stock has a 50-day moving average of $11.49 and a 200-day moving average of $8.52. The company’s market cap is $252.2 million.
Rubicon Technology (NASDAQ:RBCN) last announced its earnings results on Wednesday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the 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 $-0.76 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer downgraded shares of Rubicon Technology (NASDAQ:RBCN) from a “market perform” rating to an “underperform” rating in a research note to investors on Tuesday. They now have a $9.00 price target on the stock, down previously from $11.65. Separately, analysts at UBS AG raised their price target on shares of Rubicon Technology (NASDAQ:RBCN) from $7.50 to $14.25 in a research note to investors on Friday, September 20th. They now have a “neutral” rating on the stock. Finally, analysts at Lazard Capital Markets raised their price target on shares of Rubicon Technology (NASDAQ:RBCN) from $9.50 to $14.00 in a research note to investors on Thursday, August 29th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Rubicon Technology currently has an average rating of “Hold” and a consensus target price of $11.03.
Rubicon Technology, Inc manufactures synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications.
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