Insider Selling: Daniel Squiller Sells 15,000 Shares of GT Advanced Technologies Stock (GTAT)
GT Advanced Technologies (NASDAQ:GTAT) COO Daniel Squiller sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $20.05, for a total transaction of $300,750.00. Following the completion of the transaction, the chief operating officer now directly owns 262,735 shares in the company, valued at approximately $5,267,837. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
GT Advanced Technologies (NASDAQ:GTAT) traded down 15.60% during mid-day trading on Monday, hitting $16.50. The stock had a trading volume of 32,318,120 shares. GT Advanced Technologies has a 52 week low of $4.11 and a 52 week high of $20.54. The stock’s 50-day moving average is $17.04 and its 200-day moving average is $14.32. The company’s market cap is $2.250 billion.
GT Advanced Technologies (NASDAQ:GTAT) last released its earnings data on Wednesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was down 61.1% on a year-over-year basis. On average, analysts predict that GT Advanced Technologies will post $0.08 earnings per share for the current fiscal year.
A number of research firms have recently commented on GTAT. Analysts at Canaccord Genuity downgraded shares of GT Advanced Technologies from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $20.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Stifel Nicolaus initiated coverage on shares of GT Advanced Technologies in a research note on Wednesday, May 28th. They set a “buy” rating and a $20.00 price target on the stock. Finally, analysts at Zacks downgraded shares of GT Advanced Technologies from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 27th. They now have a $17.10 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. GT Advanced Technologies currently has an average rating of “Buy” and a consensus target price of $19.56.
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.
Get Analysts' Upgrades and Downgrades via Email - 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.