GT Advanced Technologies Receives New Coverage from Analysts at Piper Jaffray (GTAT)
GTAT has been the subject of a number of other recent research reports. Analysts at Credit Agricole downgraded shares of GT Advanced Technologies from an “outperform” rating to an “underperform” rating in a research note on Wednesday, August 20th. They now have a $19.00 price target on the stock, up previously from $18.00. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. GT Advanced Technologies presently has a consensus rating of “Buy” and a consensus target price of $20.45.
GT Advanced Technologies (NASDAQ:GTAT) traded down 1.21% during mid-day trading on Monday, hitting $17.93. The stock had a trading volume of 6,188,784 shares. GT Advanced Technologies has a 52-week low of $6.22 and a 52-week high of $20.54. The stock’s 50-day moving average is $15.6 and its 200-day moving average is $15.90. The company’s market cap is $2.466 billion.
GT Advanced Technologies (NASDAQ:GTAT) last announced its earnings results on Monday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter 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.
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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