Insider Selling: Daniel Squiller Unloads 5,000 Shares of GT Advanced Technologies Stock (GTAT)
GT Advanced Technologies (NASDAQ:GTAT) COO Daniel Squiller sold 5,000 shares of the stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $14.00, for a total value of $70,000.00. Following the completion of the transaction, the chief operating officer now directly owns 257,735 shares in the company, valued at approximately $3,608,290. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity downgraded shares of GT Advanced Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 7th. 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. The company presently has a consensus rating of “Buy” and a consensus price target of $19.56.
Shares of GT Advanced Technologies (NASDAQ:GTAT) traded up 6.73% during mid-day trading on Tuesday, hitting $15.08. 22,061,292 shares of the company’s stock traded hands. GT Advanced Technologies has a 52-week low of $5.18 and a 52-week high of $20.54. The stock’s 50-day moving average is $16.48 and its 200-day moving average is $15.3. The company’s market cap is $2.057 billion.
GT Advanced Technologies (NASDAQ:GTAT) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.14) by $0.02. The company had revenue of $58.00 million for the quarter, compared to the consensus estimate of $63.94 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was down 65.5% on a year-over-year basis. On average, analysts predict that GT Advanced Technologies will post $0.03 earnings per share 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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