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GT Advanced Technologies (NASDAQ:GTAT) was downgraded by research analysts at Credit Agricole from an “outperform” rating to an “underperform” rating in a report released on Wednesday, TheFlyOnTheWall.com reports.

GT Advanced Technologies (NASDAQ:GTAT) opened at 18.40 on Wednesday. GT Advanced Technologies has a one year low of $6.08 and a one year high of $20.54. The stock’s 50-day moving average is $15.82 and its 200-day moving average is $15.81. The company’s market cap is $2.531 billion.

GT Advanced Technologies (NASDAQ:GTAT) last released its 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 $0.11 earnings per share for the current fiscal year.

In other GT Advanced Technologies news, VP Jeffrey John Ford sold 30,492 shares of GT Advanced Technologies stock on the open market in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $15.30, for a total value of $466,527.60. The sale was disclosed in a filing with the SEC, which is available at this link.

A number of other analysts have also recently weighed in on GTAT. Analysts at Cowen and Company initiated coverage on shares of GT Advanced Technologies in a research note on Tuesday, August 12th. They set an “outperform” rating and a $19.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. GT Advanced Technologies currently has an average rating of “Buy” and a consensus target price of $19.75.

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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