Goldman Sachs Cuts GT Advanced Technologies Price Target to $14.00 (GTAT)


Analysts at Goldman Sachs lowered their target price on shares of GT Advanced Technologies (NASDAQ:GTAT) from $20.00 to $14.00 in a research report issued to clients and investors on Wednesday. The firm currently has a 'neutral' rating on the stock. Goldman Sachs' price target suggests a potential downside of 6.29% from the stock's previous close.


GTAT has been the subject of a number of other recent research reports. Analysts at Cowen and Company cut their price target on shares of GT Advanced Technologies from $19.00 to $18.00 in a research note on Wednesday. Separately, analysts at Canaccord Genuity cut their price target on shares of GT Advanced Technologies from $16.00 to $13.00 in a research note on Wednesday. Finally, analysts at Raymond James downgraded shares of GT Advanced Technologies from a 'market perform' rating to an 'underperform' rating in a research note on Thursday, August 28th. They now have a $17.72 price target on the stock. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. GT Advanced Technologies presently has an average rating of 'Hold' and an average price target of $19.10.


Shares of GT Advanced Technologies ( NASDAQ:GTAT) opened at 14.94 on Wednesday. GT Advanced Technologies has a 52 week low of $6.28 and a 52 week high of $20.54. The stock has a 50-day moving average of $16.2 and a 200-day moving average of $16.46. The company's market cap is $2.055 billion.


GT Advanced Technologies (NASDAQ:GTAT) last issued its quarterly earnings data 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 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, CEO Thomas Gutierrez sold 9,232 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $17.38, for a total value of $160,452.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.


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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