Merrill Lynch upgraded shares of GT Advanced Technologies (NASDAQ:GTAT) from a neutral rating to a buy rating in a report released on Tuesday, ARN reports. Merrill Lynch currently has $13.00 price objective on the stock.
Several other analysts have also recently commented on the stock. Analysts at UBS AG upgraded shares of GT Advanced Technologies from a neutral rating to a buy rating in a research note to investors on Tuesday. They now have a $13.00 price target on the stock, up previously from $10.00. Separately, 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.16.
Shares of GT Advanced Technologies (NASDAQ:GTAT) traded down 4.95% on Tuesday, hitting $9.3626. 5,893,092 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 $1.128 billion. GT Advanced Technologies also was the target of some unusual options trading on Monday. Investors bought 31,680 put options on the stock. This is an increase of approximately 1,088% compared to the average volume of 2,666 put options.
GT Advanced Technologies (NASDAQ:GTAT) last posted its quarterly earnings results 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 in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 63.4% on a year-over-year basis. On average, analysts predict that GT Advanced Technologies will post $-0.24 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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