Credit Suisse upgrades GT Advanced Technologies Inc (NASDAQ:GTAT)


Dallas, Texas 09/18/2013 (Financialstrend) – Credit Suisse has upgraded its price-target for GT Advanced Technologies Inc (NASDAQ:GTAT) from $4.50 to $5.00 and it has currently assigned a “neutral” rating in the stock. Recently, numerous analysts have weighed on GT Advanced Technologies Inc (NASDAQ:GTAT). Gilford Securities’ analysts raised their PT on the company’s shares from $6.40 to $10 on 22 August and have assigned a “buy” rating on the stock.

Piper Jaffray Cos analysts have raised their PT from $3.70 to $5.00 on 7 August and Canaccord Genuity upgraded the company’s shares on 27 June and have upped the target-price from $4.00 to $5.00. Eight research-analysts have assigned a “hold” rating on the stock, 2 have assigned a “buy” rating and the average rating in the company is currently a “hold” with a $4.98 average PT.

Tuesday’s trading

In Tuesday’s trading session, GT Advanced Technologies Inc (NASDAQ:GTAT) rose by 2.38%. The opening price of the shares was $6.66 which climbed to an intraday high of $6.92 and closed at $6.89. Approximately 1.73 million shares were bought and sold in Tuesday’s trading and the average volume of shares traded over a period of 30 days was 4.31 million. The company has a market cap of $851.88 million.

GT Advanced Technologies Inc (NASDAQ:GTAT) has a 52-week low of $2.61 and its 52-week high is $7.15. The stock has a 50 day moving average of $6.03 and its 200 day moving average is $4.33.

About the company

GT Advanced Technologies Inc (NASDAQ:GTAT) is a diversified technology-company It has crystal-growth solutions and equipment that are used in LED, global solar and electronics industries. It operates in 3 segments: the polysilicon business, the photovoltaic, business and the sapphire business.  Its primary products are Silicon Deposition Reactors and other related equipment that is used to produce polysilicon. This is the key raw-material used in the manufacture of silicon based solar cells and wafers.