GT Advanced Technologies, Inc. (GTATQ) - OTCPK - Limited
  • Mar. 4, 2014, 9:39 AM
    • SunEdison (SUNE +7.3%) has been upgraded to Overweight by Morgan Stanley. The firm is upbeat about SunEdison's addressable market for commercial-scale solar projects.
    • GT Advanced (GTAT +8.4%) has been started at Buy by Goldman.
    • WebMD (WBMD -3.5%) has been cut to Hold by Stifel. The firm says ad metrics are turning negative, and thinks the launch of a convertible offering following a huge buyback is a troubling sign..
    • Fortinet (FTNT +1.3%) has been started at Outperform by Wedbush.
    • TiVo (TIVO +1.3%) has been started at Buy by Topeka Capital.
    • Constant Contact (CTCT +3.4%) has been started at Buy by Roth.
    | Mar. 4, 2014, 9:39 AM
  • Mar. 4, 2014, 9:10 AM
    | Mar. 4, 2014, 9:10 AM | 4 Comments
  • Mar. 3, 2014, 2:15 PM
    • SA author Matt Margolis sees a major mobile opportunity for GT Advanced (GTAT +5%), one completely separate from its Apple sapphire supply deal.
    • Margolis argues a recent patent related to GT's Hyperion ion implanter (obtained via the Twin Creeks acquisition) suggests the company can develop triply-junction solar cells for electronic devices that carry 40%+ efficiency ratings.
    • He observes the triple-junction cells (per GT) will only be 2-25 microns thick. - by contrast, the iPhone 5S' home button is 170 microns thick - and that a partnership with France's Soitec to create systems that can manufacture substrates with multiple materials layers could help make the cells a reality.
    | Mar. 3, 2014, 2:15 PM | 8 Comments
  • Feb. 24, 2014, 12:53 PM
    • GT Advanced (GTAT +13.2%) is taking off after posting an EPS beat to go with a revenue miss, and reiterating its 2014 revenue and gross margin guidance ($600M-$800M and 25%-27%, respectively). EPS guidance of $0.02-$0.18 is in-line with a $0.09 consensus.
    • Likely helping: GT says its creation of a sapphire materials business (via the Apple deal) may allow it to "expand into other materials segments" once it's done ramping production at Apple's Mesa, AZ facility.
    • GT also says it's seeing strong interest in new LED, solar, industrial, and power electronics equipment products. "Meaningful revenue recognition" for those products is expected to start in early 2015.
    • The company ended Q4 with $539M in cash/equivalents and $283.9M in debt. It expects to end 2014 with $400M-$500M in cash. 2014 sales are set to be heavily back-end loaded - Q1 guidance is for revenue of $20M-$30M and EPS of -$0.20 to -$0.25, well below a consensus of $113M and -$0.08.
    • Q4 results, PR
    | Feb. 24, 2014, 12:53 PM
  • Feb. 24, 2014, 9:11 AM
    | Feb. 24, 2014, 9:11 AM
  • Feb. 24, 2014, 7:18 AM
    • GT Advanced Technologies, Inc. (GTAT): Q4 EPS of -$0.26 beats by $0.10.
    • Revenue of $32.6M (-68.1% Y/Y) misses by $4.78M.
    | Feb. 24, 2014, 7:18 AM | 2 Comments
  • Feb. 24, 2014, 12:05 AM
  • Feb. 23, 2014, 5:30 PM
  • Feb. 18, 2014, 12:42 PM
    • Canaccord has hiked its GT Advanced (GTAT +6.5%) PT to $15 from $13, and declares it's confident Apple plans to use sapphire display cover glass in an upcoming iPhone.
    • The remarks come a week after GT sold off on Chinese media reports stating sapphire cover glass will only be used in an iWatch for now. A few days before that, 9to5 Mac reported GT had taken delivery of 518 sapphire furnace/chamber systems - enough to cover tens of millions of iPhone displays.
    • Also: GT announces it has licensed plasma vapor deposition (PVD) process IP from private Kyma Technologies, and plans to use the technology to develop a PVD tool for LED manufacturers. GT expects to offer a production-ready tool in 1H15.
    • Q4 results arrive on Feb. 24.
    | Feb. 18, 2014, 12:42 PM
  • Feb. 11, 2014, 12:44 PM
    • Chinese sites report Apple's (AAPL +1.4%) iWatch will feature sapphire cover glass, but its next-gen iPhone won't due to cost concerns.
    • Apple sapphire manufacturing partner GT Advanced (GTAT -5.1%) is selling off, while Gorilla Glass supplier Corning (GLW +1.4%) is following the tech sector higher.
    • 9to5 Mac reported last week GT has received delivery of 518 sapphire chamber/furnace systems - enough, according to one analyst, to provide cover glass for 103M-116M 5" iPhones per year - and is ordering another 420 systems.
    • It's worth noting Apple is generally believed to obtain a 50%+ gross margin on its latest-gen iPhones, and hasn't been scared in the past to use costlier components for the sake of improving the user experience.
    | Feb. 11, 2014, 12:44 PM | 37 Comments
  • Feb. 7, 2014, 9:10 AM
    | Feb. 7, 2014, 9:10 AM | 1 Comment
  • Feb. 6, 2014, 7:20 PM
    • A week after uncovering documents suggesting Apple (AAPL) is set to begin sapphire production at its Mesa, AZ facility in February, 9to5 Mac reports manufacturing partner GT Advanced (GTAT) has received delivery of 518 sapphire furnace/chamber systems.
    • Analyst Matt Margolis estimates that's enough capacity to produce sapphire cover glass for 103M-116M 5" iPhone displays per year. Another 420 systems are said to be on order (good for 84M-94M additional displays). GT Advanced shares are up 4.7% AH.
    • Apple has extended its multi-year licensing deal with leading GPU core developer Imagination (IGNMF), whose PowerVR cores are found within Apple's A-series processors.
    • The deal is a blow to ARM (ARMH), which has been hoping Apple would adopt its Mali GPU cores. 400M Mali GPUs were shipped in 2013, up from 150M in 2012.
    • Apple plans to open its first Brazilian store on Feb. 15 in Rio de Janeiro. The company's sales to Latin America's largest market have been limited by steep taxes and tariffs.
    • Wal-Mart is once more discounting Apple hardware: The retail giant is selling the 16GB Wi-Fi-only iPad 2 for $299 ($100 below its regular price).
    | Feb. 6, 2014, 7:20 PM | 6 Comments
  • Jan. 31, 2014, 1:17 PM
    • Morgan Stanley has disclosed a 6.7M-share (5.3%) passive stake in GT Advanced (GTAT +2%). (13G)
    • The disclosure is helping shares move higher in the face of a market selloff. They rallied yesterday after 9to5 Mac posted documents indicating Apple plans to start sapphire production at its Mesa, AZ facility in February.
    | Jan. 31, 2014, 1:17 PM
  • Jan. 30, 2014, 2:01 PM
    • 9to5 Mac has uncovered documents that suggest Apple (AAPL) plans to begin sapphire production at its new Mesa, AZ facility in February, a timetable that suggests the facility's output could be used in products launching later this year. GT Advanced (GTAT +6.1%), which will be producing large quantities of sapphire for Apple at the facility, is getting a lift from the news.
    • GT shares rallied last week following a Taiwanese report stating Foxconn has built at least 100 iPhone prototypes featuring sapphire cover glass. Ten days before that, 9to5 Mac found an Apple job listing (since removed) that stated the Mesa facility will be used to make iPhone/iPod components.
    | Jan. 30, 2014, 2:01 PM | 14 Comments
  • Jan. 24, 2014, 5:36 PM
    • Taiwan's Apple Daily reports (translation) Foxconn has built at least 100 iPhone (AAPL -1.8%) prototypes featuring sapphire cover glass. The paper also reports two existing sapphire suppliers have recently made big equipment/tooling investments; Apple already uses sapphire in its iPhone home buttons and camera lens covers.
    • The report comes two months after Apple announce a major sapphire production/supply deal with GT Advanced (GTAT +0.9%), one that naturally fueled speculation sapphire will be used as a cover glass in future iDevices.
    • Corning (GLW -4.1%) investors have been on edge over Apple's moves, and their potential to drive broader mobile adoption of sapphire (thereby displacing Gorilla Glass).
    • Separately, 9to5 Mac reports a new Apple TV set-top is set to arrive in 1H14, and iLounge reports a refreshed Apple TV will feature "proper game support." With iOS 7 supporting physical game controllers, Apple TV has already been expected by many to become a casual gaming console. Logitech (LOGI), which has already rolled out an iPhone game controller, wouldn't mind.
    • Yesterday: Apple reportedly launching two larger iPhones in 2H14
    | Jan. 24, 2014, 5:36 PM | 15 Comments
  • Jan. 16, 2014, 9:13 AM
    • GT Advanced (GTAT) CFO Richard Gaynor is resigning, effective March 6, to take a position at a company owned by a P-E firm. Raja Bal, until now the corporate controller for chipmaker Skyworks, will replace Gaynor. (PR)
    • GT is also reiterating the 2013/2014 guidance it provided in November. Based on its historical reporting, GT's Q4 results should arrive in early February.
    • The CFO change comes as GT works to execute on its massive sapphire supply/furnace installation deal with Apple.
    | Jan. 16, 2014, 9:13 AM | 2 Comments
Company Description
GT Advanced Technologies is a leading diversified technology company producing advanced materials and innovative crystal growth equipment for the global electronics, solar and LED industries. Our technical innovations accelerate the use of advanced materials, enabling a new generation of... More
Sector: Technology
Industry: Semiconductor - Specialized
Country: United States