May 7, 2014, 4:51 PM| 1 Comment
May 6, 2014, 5:35 PM
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Apr. 30, 2014, 5:49 PM
- GT Advanced (GTAT) has signed an MOU with Europe's EV Group to jointly create the equipment and production processes needed to bond the sapphire and silicon carbide (SiC) lamina produced by GT's Hyperion ion implanter tech to substrates such as glass, silicon, and plastic.
- GT also says it will partner with a leading glass substrate maker to "develop specially engineered substrate materials that can be bonded to ultra-thin sapphire lamina to create unique composite solutions" that expand sapphire's reach to new markets.
- Lastly, the company has "acquired patent-pending technology for producing low-cost, scratch-resistant aluminum oxide coatings for various substrates including glass and plastics." GT expects the coatings to match sapphire's durability and scratch-resistance at lower price points, and in doing so address markets where not all of sapphire's strengths are needed.
- GT has long asserted Hyperion, obtained in 2012 via its acquisition of Twin Creeks Technologies, can address applications ranging from power semiconductors to solar wafers to touchscreens. Last month, SA author Matt Margolis argued Hyperion could enable thin solar cells for electronic devices that sport 40%+ efficiency ratings.
- Shares had already risen 5.4% in regular trading. Q1 results are due on May 8.
Apr. 2, 2014, 11:13 AM
- Goldman, which launched coverage on GT Advanced (GTAT +6.7%) a month ago with a buy, has hiked its PT to $24 from $20. The firm thinks a next-gen iPhone will be worth $15/share to GT in a base-case scenario, and $25/share in an "upside case" scenario.
- Last week, AppleInsider reported Apple and GT are looking to expand their new Mesa, AZ sapphire facility, and that the current facility should eventually contain 1.7K sapphire furnaces.
- Is another short-squeeze taking place? 26% of GT's float remained shorted as of March 14.
Mar. 28, 2014, 11:52 AM
- AppleInsider reports "multiple companies are already posting bids to build out a proposed expansion" of Apple's (AAPL) Mesa, AZ facility, where GT Advanced (GTAT +4.7%) is set to produce huge volumes of sapphire.
- Construction for the existing facility (already making sapphire) is expected to be finished by June, at which point production should hit full capacity. Sources state the facility will eventually feature 1,700 sapphire furnaces.
- 9to5 Mac previously reported GT had taken delivery of 518 furnaces and had ordered another 420. That by itself could be enough to provide cover glass for hundreds of millions of iPhone displays.
- Thanks to the Apple deal, GT is forecasting 2014 revenue of $600M-$800M, up from 2013's $299M. Its gross margin is expected to fall to 25%-27% from 31.1%.
Mar. 26, 2014, 9:54 AM
- Corning's (GLW +2.8%) earnings power will be boosted by a multi-year TV replacement cycle and its multiples could benefit from glass industry consolidation caused by the poor balance sheets of rivals, thinks Susquehanna's Mehdi Hosseini, upgrading shares to Positive.
- Hosseini also forecasts "material improvement in the cost and margin profile" for Gorilla Glass thanks to the Samsung deal and the shifting of some production from Japan to South Korea. That, in turn, will allow Gorilla Glass to maintain at least a 10x cost advantage relative to sapphire, which GT Advanced (GTAT -0.5%) is set to make large volumes of for Apple.
- He also points out 45% of 2013 Gorilla Glass demand came from tablets, a market for which sapphire could remain cost-prohibitive for a while.
- Global TV shipments fell in both 2012 and 2013, thanks to high penetration rates and a shift in consumer electronics spend towards smartphones/tablets. DisplaySearch has forecast modest growth for 2014.
Mar. 11, 2014, 8:20 AM
- GT Advanced Technologies (GTAT) signs a $336M deal to supply Cosmos Chemicals Berhad with equipment and technology for a 25,0000 metric ton annual (MTA) polysilicon facility in Sarawak, Malaysia.
- The size of the deal compares with the almost $300M in revenue that GT generated in 2013, although the time element for the order doesn't appear to have been provided.
- It's also worth pointing out that Cosmos Chemicals Berhad needs to secure final financing for the project. (PR)
Mar. 7, 2014, 9:40 AM
- GT Advanced (GTAT +4.8%) has been upgraded to Outperform by Credit Suisse, and is making new 52-week highs. Goldman started shares at Buy on Tuesday.
- JA Solar (JASO +2.6%) has been started at Buy by Sidoti. The company was one of several Chinese solar names to post big gains yesterday.
- Polycom (PLCM +3.3%) has been upgraded to Buy by Citi.
- AppliedMicro (AMCC +1.1%) has been started at Buy by Roth.
- Quality Systems (QSII +3.6%) has been upgraded to Market Perform by FBR.
- Imagination (IGNMF) has been cut to Sell by Canaccord. Shares are down 1.7% in London.
Mar. 7, 2014, 9:12 AM
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, 9:10 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.
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, 9:11 AM
Feb. 24, 2014, 7:18 AM| 2 Comments
Feb. 24, 2014, 12:05 AM
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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
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