Kaufman Bros. Downgrades Rubicon Technology (RBCN) to Hold; Continued Weak Demand Drives Pricing/Volume Weakness

Kaufman Bros. downgraded Rubicon Technology (NASDAQ: RBCN) from Buy to Hold, price target lowered from $16 to $13.

Kaufman analyst said, "Overcapacity and slower than anticipated LED demand likely to impact sapphire wafer pricing and volumes...Cost reductions may offset some weakness in 2012."

For an analyst ratings summary and ratings history on Rubicon Technology click here. For more ratings news on Rubicon Technology click here.

Shares of Rubicon Technology closed at $13.21 yesterday.

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