U.S. Markets close in 6 hrs 25 mins

GT Advanced Technologies (GTAT) in Focus: Stock Tanks 15.6% in Session

Zacks Equity Research

GT Advanced Technologies Inc. (GTAT) saw a big move last session, as the company’s shares fell nearly 16% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $16.29–$19.77 in the past one-month time frame, showed a sharp decline yesterday at $16.50.

The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks. The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.   

GTAT currently has a Zacks Rank #3 (Hold) while its Earnings ESP is zero.

Some better-ranked stocks in the technology sector include Advanced Micro Devices, Inc. (AMD), Avago Technologies Limited (AVGO) and Diodes Incorporated (DIOD). All these stocks carry a Zacks Rank #1(Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

GT ADVANCED TECH INC (GTAT): Free Stock Analysis Report

ADVANCED MICRO DEVICES INC (AMD): Free Stock Analysis Report

AVAGO TECH LTD ORD (AVGO): Free Stock Analysis Report

DIODES INC (DIOD): Free Stock Analysis Report

Zacks Investment Research