GT Advanced Technologies Now Covered by Goldman Sachs (GTAT)

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Goldman Sachs assumed coverage on shares of GT Advanced Technologies (NASDAQ:GTAT) in a research note issued on Tuesday, AR Network reports. The firm set a “buy” rating on the stock.

Shares of GT Advanced Technologies (NASDAQ:GTAT) opened at 15.04 on Tuesday. GT Advanced Technologies has a 1-year low of $2.63 and a 1-year high of $15.32. The stock’s 50-day moving average is $10.97 and its 200-day moving average is $9.01. The company’s market cap is $1.896 billion. GT Advanced Technologies also was the target of a large growth in short interest in January. As of February 14th, there was short interest totalling 32,129,798 shares, a growth of 4.7% from the January 31st total of 30,692,459 shares. Currently, 24.5% of the shares of the company are sold short. Based on an average daily trading volume, of 9,435,601 shares, the short-interest ratio is presently 3.4 days.

GT Advanced Technologies (NASDAQ:GTAT) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.26) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.35) by $0.09. The company had revenue of $32.60 million for the quarter, compared to the consensus estimate of $37.38 million. On average, analysts predict that GT Advanced Technologies will post $0.10 earnings per share for the current fiscal year.

A number of other firms have also recently commented on GTAT. Analysts at Thomson Reuters/Verus upgraded shares of GT Advanced Technologies from a “sell” rating to a “hold” rating in a research note on Monday. Separately, analysts at UBS AG raised their price target on shares of GT Advanced Technologies from $13.00 to $18.00 in a research note on Tuesday, February 25th. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of GT Advanced Technologies from $9.00 to $18.00 in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $13.43.

In other GT Advanced Technologies news, VP David Keck sold 202,493 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $14.04, for a total transaction of $2,843,001.72. Following the sale, the vice president now directly owns 75,264 shares in the company, valued at approximately $1,056,707. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

GT Advanced Technologies Inc is diversified technology company with crystal growth equipment and solutions for the global solar, light emitting diode (NASDAQ:GTAT) and electronics industries.

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