Credit Suisse upped their target price on shares of GT Advanced Technologies (NASDAQ:GTAT) from $3.50 to $4.50 in a research note issued on Friday, ARN reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price target points to a potential downside of 15.41% from the stock’s previous close.
Shares of GT Advanced Technologies (NASDAQ:GTAT) traded down 0.37% during mid-day trading on Friday, hitting $5.32. GT Advanced Technologies has a one year low of $2.61 and a one year high of $6.20. The stock’s 50-day moving average is currently $4.57. The company’s market cap is $634.9 million.
GT Advanced Technologies (NASDAQ:GTAT) last announced its earnings results on Monday, August 5th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.06. The company had revenue of $168.30 million for the quarter, compared to the consensus estimate of $169.01 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that GT Advanced Technologies will post $0.31 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on GTAT. Analysts at Piper Jaffray Cos. raised their price target on shares of GT Advanced Technologies from $3.70 to $5.00 in a research note to investors on Wednesday. Separately, analysts at Canaccord Genuity upgraded shares of GT Advanced Technologies from a “hold” rating to a “buy” rating in a research note to investors on Thursday, June 27th. They now have a $5.00 price target on the stock, up previously from $4.00.
Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $4.19.
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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