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Goldman Sachs decreased their price target on shares of GT Advanced Technologies (NASDAQ:GTAT) from $24.00 to $22.00 in a research note issued on Friday, Stock Ratings News reports. Goldman Sachs’ price target would suggest a potential upside of 66.67% from the stock’s previous close.

In other GT Advanced Technologies news, VP Ho Il Kim sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $17.05, for a total transaction of $426,250.00. Following the completion of the transaction, the vice president now directly owns 44,991 shares in the company, valued at approximately $767,097. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of GT Advanced Technologies (NASDAQ:GTAT) opened at 13.205 on Friday. GT Advanced Technologies has a one year low of $3.44 and a one year high of $19.44. The stock has a 50-day moving average of $16.59 and a 200-day moving average of $12.21. The company’s market cap is $1.787 billion. GT Advanced Technologies also saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 39,815,103 shares, an increase of 5.2% from the April 15th total of 37,863,945 shares. Based on an average trading volume of 6,674,763 shares, the short-interest ratio is currently 6.0 days. Approximately 29.5% of the company’s stock are sold short.

GT Advanced Technologies (NASDAQ:GTAT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.21) by $0.01. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $26.94 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was down 61.1% on a year-over-year basis. Analysts expect that GT Advanced Technologies will post $0.10 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of GT Advanced Technologies in a research note on Friday. They now have a $20.00 price target on the stock, down previously from $21.00. Separately, analysts at Zacks upgraded shares of GT Advanced Technologies from a “neutral” rating to an “outperform” rating in a research note on Monday, April 28th. They now have a $19.50 price target on the stock. Finally, analysts at Gilford Securities raised their price target on shares of GT Advanced Technologies to $25.00 in a research note on Wednesday, March 26th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.78.

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

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