GT Advanced Technologies Now Covered by Goldman Sachs (GTAT)

Share on StockTwits

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.

Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.

Latest News

Discover Financial Services Price Target Raised to $69.00 at SunTrust
Discover Financial Services Price Target Raised to $69.00 at SunTrust
Jabil Circuit Rating Lowered to Buy at Goldman Sachs
Jabil Circuit Rating Lowered to Buy at Goldman Sachs
Flextronics International Rating Reiterated by Deutsche Bank
Flextronics International Rating Reiterated by Deutsche Bank
Credit Suisse Reiterates “Outperform” Rating for DST Systems
Credit Suisse Reiterates “Outperform” Rating for DST Systems
Starbucks Rating Reiterated by Deutsche Bank
Starbucks Rating Reiterated by Deutsche Bank
Macerich Stock Rating Reaffirmed by Credit Suisse
Macerich Stock Rating Reaffirmed by Credit Suisse


Leave a Reply

 
© 2006-2014 Mideast Time.