Shares of LED stocks are under pressure this morning after Needham downgraded both Veeco Instruments (VECO) and Rubicon Technology (RBCN) due to slowing demand and over capacity. That’s essentially the same analysis analysts have made for solar stocks which have mirrored the performance of LED stocks. It should be noted that both green sectors are emerging from the dead and are greatly improved technically. I mentioned solar stocks bottomed out a few weeks ago and … Read the rest
Tag Archives: rbcn
Rubicon Technology (RBCN) Beats, But Down AH On Poor Guidance
Rubicon Technology (RBCN) reported earnings results after the bell today that were ahead of analyst estimates, but the stock is getting hit more than 12% in after hours trading on very weak guidance.
The company reported an EPS number of .35/share on revenues of $33.6 million which was above the analyst estimates of .26/share on revenues of $31 million. The company attributed the strong results to strong sales of its six inch polished wafers which … Read the rest
Rubicon (RBCN) Beats, Guides Above Estimates, Shares Soar
Rubicon (RBCN) reported huge quarter over quarter growth after the bell tonight, smashing estimates in the process. Obviously traders love the report, sending shares up 20% in after hours trading. The EPS number came in at .64/share on revenues of $29.5 million which compares with the analyst estimate of just .50/share on revenues of $26.8 million. The company attributed strong results to two new manufacturing facilities, increased pricing and strong demand in the LED market.… Read the rest
Rubicon Technology (RBCN) Opens Sapphire Wafer Production For LEDs In Malaysia
Rubicon Technology (RBCN) has opened its first manufacturing facility outside of the US. The manufacturer of sapphire substrates for the LED industry has opened a facility in Malaysia to better cater to the Asian LED and consumer electronics market. Research firm iSuppli believes the global LED market will double in the next three years driven by increased LED adoption in the general lighting market. Much of the LED growth up to this point has been … Read the rest
Green Stocks Ratings – Analysts Bullish On RBCN, VRNM & COMV
A few bullish analyst calls to tell you about this morning.
Yesterday I posted about Verenium’s (VRNM) approval in China for Purifine which sent the stock soaring. The pull back today is offering a 2nd chance opportunity. Shares have pulled back to what is now support around the 200 day moving average.
Olympia Capital chimed in on the news and upgraded the stock from Neutral to Buy and raised the price target from $3 to … Read the rest
Rubicon Technology (RBCN) Plummets Again, This Time On Sterne Agee Sell Rating
It’s been a mighty rough go for Rubicon Technology (RBCN) shareholders in recent months. Since I posted about the CEO and CFO liquidating their entire positions in the company on June 23rd, the stock is down about 50%. Selling near the top saved the CEO nearly $2.5 million. You have to wonder now when they plan to buy back the stock. If their market timing prowess at the top is any indication, it may be … Read the rest
Rubicon Technology (RBCN) Beats, Guides Higher & Announces $71 Million Contract
The good news is flowin for Rubicon Technology (RBCN) after the bell today, but traders aren’t impressed enough to continue to send the stock into the stratosphere l.. at least in the early going. The stock is down a few percent as I write this. The company beat analyst estimates by reporting a Q2 EPS of $0.18, vs the estimate of $0.14 on revenues of $15.8 million vs the estimate of $14.50 million. Sequentially, that’s … Read the rest
Piper Jaffray On LED Lighting Stocks: CREE, RBCN, VECO
Piper Jaffray was out with some rating changes/coverage of LED lighting stocks after the bell today. Hat tip to Street Insider for the following analyst comments….
Initiated Cree Inc (CREE) at Overweight with $88 price target. They believe Cree is the leading LED play and that the recent pull back offers an attractive entry point. To that I say it’s up 20% in two weeks.. would have been an attractive entry point at the beginning … Read the rest
Rubicon Technology (RBCN) Insider Selling: CEO, CFO Liquidate Entire Position
Just days ago Rubicon Technology (RBCN) closed on a public offering of more than 3 million shares, raising around $62 million. In that offering, 834,000 shares were sold to the public by “selling stockholders” as indicated in the press release. We know now that those selling stockholders include the CEO and CFO according to InsiderCow.com, both of which liquidated their entire position. CEO Raja Parvez sold all 200,000 shares for a cool $5.68 million … Read the rest
Today’s Analyst Ratings Roundup: Upgrades Of SPWRA, ERII, RBCN, ITRI, BWA
Auriga has reversed its call after last week’s selling, upgrading SunPower (SPWRA) from Sell to Hold. “Shares of SPWRA are now trading below our price target of $15 and are essentially 1.0x book value of $14.26.” The firm expects the company’s presentation following its earnings report tomorrow to be optimistically bullish. While demand for solar continues to improve, the still believe that margins will erode due to increasing competition and maintain the $15 price target. … Read the rest