GT Advanced Technologies Inc (NASDAQ:GTAT) is upgraded by Canaccord Genuity

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Boston, MA, 06/28/2013 (financialstrend) – The share prices of GT Advanced Technologies Inc (NASDAQ:GTAT) had been traded in the price range of $3.93 and $4.23 per share on Thursday. The share price of the company had gradually advanced by 13.85 percent more than the previous day. The opening price is $3.96 per share. The share price of GT Advanced Technologies Inc (NASDAQ:GTAT) does not made any effect in the 52 week high value $7.09 and 52 week low value $2.61.

GT Advanced Technologies Inc (NASDAQ:GTAT) is diversified technology company with presence in crystal growth equipment and the global solar solution, Light Emitting Diode and electronics industries. The three segments where the company operates are its photovoltaic, its polysilicon business and its sapphire business. The principal products of the company are Silicon Deposition Reactors and related products that are used to produce polysilicon.

GT Advanced Technologies Inc (NASDAQ:GTAT) was upgraded by Canaccord Genuity to a “buy” rating from the “hold” rating, as explained by AnalystRatings.Net reports’ research note issued on Thursday,. The company currently has a target price of $5.00 on the stock, which is $1.00 more from their last target price of $4.00. Canaccord Genuity’s target price would indicate a potential upside of 38.50 percent from the stock’s previous close. Research analysts totally eight members, two have given a buy rating to the stock and six analysts rated the stock with a hold rating. GT Advanced Technologies presently having an average target price of $3.79 with has a rating of “Hold”.

The market capitalization value is nearly 490.72 million and institutional investors share’s value is about 104 percent. The GT Advanced Technologies Inc (NASDAQ: GTAT) had a trading volume as 10.41 million and the average volume as 4.24 million per day on Thursday. The company presently holds outstanding share values as 119.40 million on Thursday.