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Rubicon Technology (NASDAQ:RBCN) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $8.00 target price on the stock, down from their previous target price of $10.00. Canaccord Genuity’s target price points to a potential upside of 6.81% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Rubicon Technology in a research note on Wednesday, July 23rd. They set a “sell” rating and a $6.00 price target on the stock. Separately, analysts at Oppenheimer upgraded shares of Rubicon Technology from an “underperform” rating to a “market perform” rating in a research note on Friday, May 23rd. They now have a $7.50 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Dougherty & Co initiated coverage on shares of Rubicon Technology in a research note on Tuesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Rubicon Technology currently has an average rating of “Hold” and a consensus target price of $10.73.

Shares of Rubicon Technology (NASDAQ:RBCN) opened at 7.49 on Friday. Rubicon Technology has a one year low of $6.93 and a one year high of $14.67. The stock has a 50-day moving average of $8.42 and a 200-day moving average of $10.00. The company’s market cap is $195.9 million. Rubicon Technology also saw unusually large options trading on Thursday. Stock traders bought 66 put options on the stock. This represents an increase of approximately 144% compared to the average daily volume of 27 put options.

Rubicon Technology (NASDAQ:RBCN) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.39) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.42) by $0.03. The company had revenue of $14.47 million for the quarter, compared to the consensus estimate of $14.40 million. During the same quarter last year, the company posted ($0.26) earnings per share. Rubicon Technology’s revenue was up 37.1% compared to the same quarter last year. On average, analysts predict that Rubicon Technology will post $-1.29 earnings per share for the current fiscal year.

Rubicon Technology, Inc manufactures synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications.

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