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GT Advanced Technologies, Inc. Message Board

  • patvn777 patvn777 Feb 7, 2013 12:38 PM Flag

    Institutions add more GTAT...

    Load the boat now !! Big boys are buying GTAT.

    http://seekingalpha.com/article/1162651-the-institutional-investor-adds-gt-advanced-technologies?source=yahoo

    Sentiment: Buy

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    • tjshinault@att.net tjshinault Feb 7, 2013 1:49 PM Flag

      I'm on board..Thanks!!
      Recently the Norwegians have been on a buying spree of GTAT shares. In a filing on 2/5/13, DNB Asset Management based in Oslo disclosed that it added 1.7M shares to an already large position bringing its total holding in GTAT to over 7M shares, or almost 6% of the company. Norges Bank Investment Management ($650B AUM) as of the latest filing on 9/26/2012 has 6.2M shares, a 5.22% stake. 11% of GTAT's shares are held by a large Norwegian financial institution and the largest pension fund in the world.

      Why bring this up?

      I think all of us can get lost in the day to day gyrations of the stock and the market as a whole. In all, 87% of GTAT's shares are being held by very large institutions who aren't going to divest their stake in the company at $3 per share. This leaves 15M or so shares being traded back and forth amongst day traders and smaller institutions. The funny thing is - there are 36M shares short. With only 15M shares around, any surprise in earnings next week is surely to provide a short squeeze.

      Sentiment: Strong Buy

      • 1 Reply to tjshinault
      • It might be the kind of surprise that isn't so good.

        Although I do like that the price has been stable today in a bad market.

        RBCN getting crushed today as Piper downgraded them with a price target of $4 while the stock closed yesterday in the $6.30's. I only saw a snippet on the downgrade in which the analyst noted competition and possibly no profitability until 2014.

        RBCN is trading at less than 60% of tangible book value so maybe at some point that becomes a buyout target for someone.

 
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