GT Advanced Technologies Rating Increased to Buy at UBS AG (GTAT)
GT Advanced Technologies (NASDAQ:GTAT) was upgraded by research analysts at UBS AG from a “neutral” rating to a “buy” rating in a report released on Tuesday, Analyst Ratings News reports. The firm currently has a $13.00 price objective on the stock, up from their previous price objective of $10.00. UBS AG’s price objective would suggest a potential upside of 55.13% from the company’s current price.
A number of other analysts have also recently weighed in on GTAT. Analysts at Credit Agricole upgraded shares of GT Advanced Technologies from an “underperform” rating to an “outperform” rating in a research note to investors on Tuesday. Separately, analysts at Canaccord Genuity raised their price target on shares of GT Advanced Technologies from $10.00 to $13.00 in a research note to investors on Tuesday. 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 $8.00 to $10.41 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. GT Advanced Technologies presently has a consensus rating of “Buy” and a consensus target price of $9.05.
Shares of GT Advanced Technologies (NASDAQ:GTAT) traded up 20.41% on Tuesday, hitting $10.0901. The stock had a trading volume of 19,018,996 shares. GT Advanced Technologies has a 52-week low of $2.61 and a 52-week high of $9.37. The stock’s 50-day moving average is $8.26 and its 200-day moving average is $5.69. The company’s market cap is $1.216 billion. GT Advanced Technologies also was the recipient of some unusual options trading activity on Monday. Stock traders bought 31,680 put options on the stock. This represents an increase of 1,088% compared to the typical daily volume of 2,666 put options.
GT Advanced Technologies (NASDAQ:GTAT) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.53. The company had revenue of $40.30 million for the quarter, compared to the consensus estimate of $58.67 million. During the same quarter last year, the company posted $0.01 earnings per share. GT Advanced Technologies’s revenue was down 63.4% compared to the same quarter last year. Analysts expect that GT Advanced Technologies will post $0.32 EPS for the current fiscal year.
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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