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January 10, 2013
08:41 EDTGTATGT Advanced to incur restructuring charges, impairment charges in Q4
The company estimates that the idling of the St. Louis facility will reduce its annualized expenses by approximately $15M, excluding restructuring charges. The savings related to this action were anticipated and reflected in the CY13 guidance range provided by the company on December 18, 2012. In addition, the company expects to incur restructuring and non-cash asset impairment charges in Q4 2012 and in 2013 related to this action.
News For GTAT From The Last 14 Days
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April 7, 2014
08:16 EDTGTATGT Advanced announces $58.6M specialty furnace orders
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April 2, 2014
12:48 EDTGTATGT Advanced rallies after Goldman raises price target
Shares of GT Advanced Technologies (GTAT) - which makes sapphire products and solar energy equipment - are climbing after Goldman Sachs raised its price target on the stock in a note to investors earlier today. WHAT'S NEW: Goldman Sachs analyst Brian Lee raised his 2015 and 2016 earnings per share estimates for GT Advanced, as he is more upbeat about the outlook for the company's equipment business. GT Advanced's deal to supply sapphire for upcoming Apple (AAPL) devices is worth $15 per share for GT if the deal goes as expected, and up to $25 if the deal exceeds expectations, contended Lee. The analyst raised his price target on the stock to $24 from $20 and kept a Buy rating on the shares. OTHERS TO WATCH: Rubicon Technology (RBCN) also makes sapphire. That stock was upgraded to Overweight from Neutral in a note to investors from JPMorgan yesterday. JPMorgan expected Rubicon to benefit from a pick-up in demand for LEDs and sapphire covers. The stock surged yesterday in the wake of the upgrade. PRICE ACTION: In early afternoon trading, GT Advanced climbed $1.13, or 6.5%, to $18.51, while Rubicon fell 2.8% to $12.62.
08:57 EDTGTATGT Advanced price target raised to $24 from $20 at Goldman
Goldman believes GT Advanced's Apple opportunity continues to build momentum but believes core equipment is underappreciated and is incrementally more positive on its ability to monetize new equipment technology. Shares are Buy rated with a $24 price target raised from $20.

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