Rubicon Technology (RBCN) to Repurchase $3.00 million in Outstanding Shares
Rubicon Technology (NASDAQ:RBCN) announced that its Board of Directors has authorized a stock buyback plan, which permits the company to buyback $3.00 million in shares on Monday, November 19th. This buyback authorization permits the semiconductor company to buy up to 14.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Separately, ValuEngine raised shares of Rubicon Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th.
Shares of RBCN opened at $8.00 on Thursday. Rubicon Technology has a twelve month low of $6.76 and a twelve month high of $9.46.
About Rubicon Technology
Rubicon Technology, Inc provides monocrystalline sapphire for applications in optical and industrial systems. It offers optical and industrial sapphire products in various shapes and sizes, including round and rectangular windows and blanks, domes, tubes, and rods for a range of end markets comprising defense and aerospace, specialty lighting, instrumentation, sensors and detectors, semiconductor process equipment, electronic substrates, medical, and laser applications.
Featured Article: Capital Gains
Receive News & Ratings for Rubicon Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rubicon Technology and related companies with MarketBeat.com's FREE daily email newsletter.