Sterne Agee Comments on Concerns at Rubicon Technology

Sterne Agee has published a report on Rubicon Technology RBCN covering relations with the company's prime customer. In the report, Sterne Agee wrote, "Last Tuesday, LG Innotek (011070-KR – 94,000 KRW – not rated) reported its June quarter results. On the LED slide from its investor presentation, LG indicated that it would internalize sapphire wafer production to further reduce costs." Sterne Agee rated Rubicon Technology a SELL with a price target of $12.00. Rubicon closed Friday at $14.72.