ValuEngine downgraded shares of Rubicon Technology, Inc. (NASDAQ:RBCN) from a hold rating to a sell rating in a report released on Friday morning.

Rubicon Technology (RBCN) opened at 8.16 on Friday. The company has a 50 day moving average of $8.85 and a 200-day moving average of $4.27. Rubicon Technology has a 52-week low of $0.73 and a 52-week high of $10.45. The stock’s market capitalization is $22.11 million.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Rubicon Technology by 0.9% in the fourth quarter. FMR LLC now owns 2,763,209 shares of the semiconductor company’s stock worth $1,710,000 after buying an additional 24,335 shares during the last quarter. Renaissance Technologies LLC boosted its position in Rubicon Technology by 17.8% in the fourth quarter. Renaissance Technologies LLC now owns 832,900 shares of the semiconductor company’s stock worth $500,000 after buying an additional 126,000 shares during the last quarter. River & Mercantile Asset Management LLP boosted its position in Rubicon Technology by 51.4% in the first quarter. River & Mercantile Asset Management LLP now owns 714,324 shares of the semiconductor company’s stock worth $611,000 after buying an additional 242,424 shares during the last quarter. Royce & Associates LP boosted its position in Rubicon Technology by 4.0% in the first quarter. Royce & Associates LP now owns 801,705 shares of the semiconductor company’s stock worth $668,000 after buying an additional 30,615 shares during the last quarter. Finally, Bandera Partners LLC purchased a new position in Rubicon Technology during the first quarter worth approximately $304,000.

About Rubicon Technology

Rubicon Technology, Inc is a vertically integrated, electronic materials provider specializing in monocrystalline sapphire for applications in light-emitting diodes (LEDs), optical systems and specialty electronic devices. The Company’s product lines include sapphire cores; four and six-inch sapphire wafers; four, six, and eight-inch patterned sapphire substrate (PSS) wafers, and optical sapphire components.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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