GT Advanced Technologies Inc (NASDAQ:GTAT) Slips In Spite Of New Product Launch


Dallas, Texas 02/06/2014 (FINANCIALSTRENDS) – The diversified technology solutions firm GT Advanced Technologies Inc (NASDAQ:GTAT) which is into the manufacture of specialized semiconductor products and crystal equipment which goes into the making of light diodes has had a tumultuous time at the share market in spite of the firm firmly pushing ahead with release of new specialized products catering to the digital equipment manufacturer industry.

As a case in point is 4th February on which day, GT Advanced Technologies Inc (NASDAQ:GTAT) announced the launch of new line of “Ti: Sapphire and Low Absorption Optical Sapphire (LAOS)” Products on the sidelines of SPIE Photonics West summit that is currently going on at San Francisco, California. On the same day, the company stock shed close to 4 percent of its market valuation. This sell off in the stock was accompanied by news that Mr Richard J. Gaynor who serves as the Chief Financial Officer, Principal Accounting Officer, Vice President had almost halved his share holdings in the firm overnight to 103,407 shares by selling close to 124,250 shares on 4th February and in exchange netted proceeds of $1.26 million.

In a press note, that accompanied the announcement of launch of new line of products, GT Advanced Technologies Inc (NASDAQ:GTAT) has expressed that, Ti: sapphire material which is heavily used in high-intensity ultrafast lasers is their flag ship product. In addition, it also manufactures LAOS material by leveraging its patented HEM crystal growth technology.

The press note goes on to highlight the potential of this new line of products by quoting that,  “GT Advanced Technologies is increasing its focus on Ti:sapphire and LAOS sapphire products and will leverage its considerable crystal growth process and manufacturing expertise to develop more complete sapphire solutions targeted at the high-end optical and laser markets.” It has to be noted here that GT’s LAOS had shot to fame that this solution had found its way into the Apple I Phone home button.

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