Rubicon Technology Inc. (RBCN) Stake Decreased by Royce & Associates LP
Royce & Associates LP decreased its stake in Rubicon Technology Inc. (NASDAQ:RBCN) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,374,243 shares of the company’s stock after selling 5,028 shares during the period. Royce & Associates LP owned about 5.14% of Rubicon Technology worth $934,000 as of its most recent filing with the SEC.
Separately, Renaissance Technologies LLC raised its position in Rubicon Technology by 27.1% in the first quarter. Renaissance Technologies LLC now owns 505,500 shares of the company’s stock valued at $369,000 after buying an additional 107,809 shares during the period. Institutional investors and hedge funds own 48.40% of the company’s stock.
Shares of Rubicon Technology Inc. (NASDAQ:RBCN) traded up 3.33% on Tuesday, reaching $0.62. 27,635 shares of the company’s stock were exchanged. Rubicon Technology Inc. has a one year low of $0.51 and a one year high of $1.78. The firm’s market capitalization is $16.63 million. The firm has a 50 day moving average of $0.64 and a 200 day moving average of $0.70.
Rubicon Technology (NASDAQ:RBCN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.03. Rubicon Technology had a negative net margin of 489.27% and a negative return on equity of 29.29%. The company had revenue of $3.54 million for the quarter, compared to analyst estimates of $4.42 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Rubicon Technology’s revenue was down 50.3% on a year-over-year basis. On average, equities research analysts predict that Rubicon Technology Inc. will post ($0.92) EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Rubicon Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th.
Rubicon Technology Company Profile
Rubicon Technology, Inc is a vertically integrated, electronic materials provider specializing in monocrystalline sapphire for applications in light-emitting diodes (LEDs), optical systems and specialty electronic devices. The Company’s product lines include sapphire cores; four and six-inch sapphire wafers; four, six, and eight-inch patterned sapphire substrate (PSS) wafers, and optical sapphire components.
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