StockNews.com Begins Coverage on Rubicon Technology (NASDAQ:RBCN)

StockNews.com assumed coverage on shares of Rubicon Technology (NASDAQ:RBCN) in a research note released on Tuesday morning. The firm issued a sell rating on the semiconductor company’s stock.

Rubicon Technology Stock Performance

Shares of RBCN opened at $0.63 on Tuesday. The stock’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.28. Rubicon Technology has a 12-month low of $0.52 and a 12-month high of $2.34.

Rubicon Technology Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, October 23rd. Shareholders of record on Monday, October 16th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, October 24th.

Institutional Investors Weigh In On Rubicon Technology

A hedge fund recently bought a new stake in Rubicon Technology stock. Citadel Advisors LLC bought a new position in Rubicon Technology, Inc. (NASDAQ:RBCN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,412 shares of the semiconductor company’s stock, valued at approximately $46,000. Citadel Advisors LLC owned approximately 0.87% of Rubicon Technology at the end of the most recent reporting period.

About Rubicon Technology

Rubicon Technology, Inc provides monocrystalline sapphire for applications in optical and industrial systems in North America, Asia, and internationally. The company offers optical and industrial sapphire products in various shapes and sizes, including sheets, rods, tubes, core, ingots, and prisms 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.