UBS AG upgraded shares of GT Advanced Technologies (NASDAQ:GTAT) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Analyst Ratings.Net reports. The firm currently has $13.00 price target on the stock, up from their previous price target of $10.00.
Shares of GT Advanced Technologies (NASDAQ:GTAT) traded down 4.80% during mid-day trading on Tuesday, hitting $9.3772. 5,475,101 shares of the company’s stock traded hands. GT Advanced Technologies has a 1-year low of $2.61 and a 1-year high of $10.60. The stock’s 50-day moving average is $8.44 and its 200-day moving average is $5.77. The company’s market cap is $1.130 billion. GT Advanced Technologies also was the recipient of unusually large options trading on Monday. Investors bought 31,680 put options on the company. This represents an increase of approximately 1,088% compared to the average volume of 2,666 put options.
GT Advanced Technologies (NASDAQ:GTAT) last released its earnings data on Monday, November 4th. The company reported ($0.16) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.69) by $0.53. The company had revenue of $40.30 million for the quarter, compared to the consensus estimate of $58.67 million. During the same quarter last year, the company posted $0.01 earnings per share. GT Advanced Technologies’s revenue was down 63.4% compared to the same quarter last year. On average, analysts predict that GT Advanced Technologies will post $-0.24 earnings per share for the current fiscal year.
A number of other firms have also recently commented on GTAT. Analysts at Credit Agricole upgraded shares of GT Advanced Technologies from an underperform rating to an outperform rating in a research note to investors on Tuesday. Separately, analysts at Canaccord Genuity raised their price target on shares of GT Advanced Technologies from $10.00 to $13.00 in a research note to investors on Tuesday. They now have a buy rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of GT Advanced Technologies from $8.00 to $10.41 in a research note to investors on Tuesday. They now have a buy rating on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $10.16.
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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