UPDATE - UBS Downgrades Rubion Tech (RBCN) to Neutral; Slower Ramp to 6"
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Price: $6.12 --0%
Rating Summary:
1 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
1 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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UPDATE - UBS downgrades Rubion Tech (Nasdaq: RBCN) from Buy to Neutral. PT lowered $1 to $11.
UBS analyst says, "RBCN's 3Q11 sales of 6” sapphire wafers were strong at $25M (74% of sales, up 78% q/q) but guided down -30% q/q. Previously our investment thesis was more big customer wins for 6” in 2011. However, the lack of new 6” product available from Rubicon in 2H11 combined with customer’s factory utilization rates at 60% (estimate 80% to see 6" transition), we believe a slower 6” ramp is now likely...Our new 2012 and 2013 EPS estimates are $0.50 and $1.10 versus $1.20 and $1.65 previously."
UBS analyst says, "RBCN's 3Q11 sales of 6” sapphire wafers were strong at $25M (74% of sales, up 78% q/q) but guided down -30% q/q. Previously our investment thesis was more big customer wins for 6” in 2011. However, the lack of new 6” product available from Rubicon in 2H11 combined with customer’s factory utilization rates at 60% (estimate 80% to see 6" transition), we believe a slower 6” ramp is now likely...Our new 2012 and 2013 EPS estimates are $0.50 and $1.10 versus $1.20 and $1.65 previously."
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