UBS maintains a 'Neutral' on Rubicon Technology (RBCN); Sapphire Prices Remain Low

UBS maintains a 'Neutral' on Rubicon Technology (NASDAQ: RBCN) price target lowered from $12.50 to $10.00.

Analyst, Stephen Chin, said, "Pre-announces 1Q12 sales in-line but EPS lower than expected...LED sapphire demand improved in 2Q12 but pricing remains weak...Lowering estimates on the lower 2Q12 EPS guidance: Our new 2012 and 2013 EPS estimates are $0.20 and $0.85 compared to $0.40 and $1.00 previously. Rubicon reported that it will provide its full 1Q12 results on May 8, 2012 after the close. We still estimate Rubicon’s quarterly sales breakeven level is around $18M/qtr."

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 $10.31 yesterday.

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