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.

Rubicon Technology (NASDAQ:RBCN) last announced its quarterly earnings results on Tuesday, November 13th. The semiconductor company reported ($0.06) earnings per share for the quarter. The firm had revenue of $0.98 million for the quarter. Rubicon Technology had a negative net margin of 125.00% and a negative return on equity of 21.33%.

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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.

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