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GT Advanced Technologies Inc. (GTAT)

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Last Post: 11/21/2020 10:39:30 PM - Followers: 239 - Board type: Free - Posts Today: 0

Despite, or possibly because of, its recent Chapter 11 Bankruptcy filing, GTAT remains the world leader in the development and sale of sophisticated, efficient furnaces for the production of high grade crystalline materials. They began in photovoltaic cells, and expanded into polysilicon, and the rapidly growing market for LED quality sapphire the acquisition of Crystal Systems, in Salem, MA, in July 2010. Its May 2013 acquisition of Thermal Technologies via a stock-for-stock exchange added an electrical annealing process that grows crystals at lower temperatures, and other high technologies. GTAT claims to have mostly integrated Thermal into its sapphire operation.
Apple Computer Debacle
Under a major contract announced in November 2013, GTAT undertook a massive project to be sole supplier to Apple of unscratchable device screens—in return for Apple's providing them with the use of a 1M sq' plant in Mesa, AZ, and pre-paying for the sapphire in the amount of nearly $600m to enable GTAT to purchase tools and supplies and hire new personnel to run the plant. GTAT began shipping massive amounts of equipment to Mesa in February 2014, and added over a thousand new hires. GTAT's other areas of business took a back seat to this massive project. During 2013-14, GTAT’s stock was one of the most widely shorted and, unfortunately, predictions that GTAT would be unable to meet Apple’s quality requirements proved correct with a suddenness that shocked stockholders and observers alike. Apple’s September iPhone6 event omitted sapphire screens from the device, though including them for its planned Apple Watch, an untested market. GTAT’s stock crashed to a low of 0.80 when GTAT announced that it had filed in New Hampshire to reorganize under Chapter 11 of the bankruptcy code on October 6, 2014.
Remaining Sources of Value
GTAT had $1.5B of assets total, including $85M of cash, vs. $1.3B of liabilities, as of the filing, including the following:
The Monocast™ furnace technology for the production of photovoltaic materials and polysilicon.
The Hyperion™ Ion Implanter, a non-kerfing, ion beam knife for the thin-slicing of extremely hard materials; it still remains to be seen how well developed the Hyperion ion implanter is or how integral it will become to GTAT's plans going forward as an efficient slicer of high tech materials, or even for the beam’s use as an alternative to radiation therapy for the removal of cancer cells.
The Merlin™ Solar Panel Technology. In early 2014, GTAT announced that it had developed and patented a breakthrough in solar panel design to allow greater collection efficiency, the replacement of most of the silver in the panels with copper and, importantly, much greater efficiency of installation and greater longevity of the panels themselves. GTAT has expanded added production capacity for the technology at its facility in Merrimack, NH. However, due to the size of the market, GTAT has since stated that it will pursue a licensing strategy for third party suppliers to manufacture and sell the copper grid to panel manufacturers.
Also, GTAT has continued a high level of R&D—at 15% of guided 2013 revenues—towards new offerings in the areas of:
* Furnaces to produce defect free silicon carbide for power converters;
* HiCZ™ furnaces and other tools to produce mono-crystalline PV with as high as 27% solar conversion efficiency;
* An improvement to the MOCVD process for building LEDs known as HVPE GaN, through a partnership with Soitec; and
* An automated sapphire inspection tool through a partnership with Intego that can increase the yield of high quality sapphire material from a given boule.
Remaining Sources of Revenue
GTAT had previously guided LED sapphire and polysilicon furnace sales to comprise the bulk of its revenues for 2014, with SiC related sales to comprise only 1%. Interestingly, GTAT never included Apple revenues specifically in its statements of guidance. There may also be nearer term opportunities for the Hyperion tool both in sapphire and in SiC, while most HiCZ and HVPE revenues have been projected for 2014 and beyond.
Further Guidance
Investors will have to follow the bankruptcy filings for further company updates.
Current Price
Bid Ask Day's Range
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#41692   Gotcha. I kept it on my radar after it creede 11/21/20 10:39:30 PM
#41691   They are back in business. The debtors took UpTickMeASAP 11/21/20 05:47:00 PM
#41690   Weird stuff. This ticker went Grey to Pink about creede 11/21/20 05:28:24 PM
#41689   https://www.nhbr.com/apple-agrees-to-3-5m-settlement-in-gtat-lawsuit/ The C UpTickMeASAP 11/21/20 03:59:00 PM
#41688   No clue.. I was surprised just to see UpTickMeASAP 11/21/20 02:19:01 PM
#41687   Post if you run across any updates, if UpTickMeASAP 11/21/20 02:17:00 PM
#41686   Interesting. How is this price holding up so well? 23.00 creede 11/21/20 10:56:42 AM
#41685   Nope, but I'll be following it now!!! Jiminy Cricket 11/20/20 11:47:18 PM
#41684   https://www.engadget.com/2019-05-06-apple-sapphire-glass-supplier-charged-with-f UpTickMeASAP 11/20/20 10:43:09 AM
#41683   Nope. Ad the most bizarre spread you will ever see. creede 06/16/20 05:52:06 PM
#41682   No longer on grey? TheGreatSwami 06/16/20 05:10:42 PM
#41681   GTAT: Grey to Pink on 05/04/2020. creede 05/04/20 08:55:31 AM
#41680   how about now? :-) alchemytrader 11/02/19 02:06:11 AM
#41679   THANK YOU RENEE!!!! for your OVERSIGHT re SEC maverick_1 05/24/19 03:58:14 PM
#41678   GTAT SEC Cease and Desist Order: Renee 05/03/19 06:05:07 PM
#41677   I initially bought many GTAT bonds for $470 TheGreatSwami 04/25/19 06:23:38 PM
#41676   GTAT is still resolving a claim with Tera TheGreatSwami 04/25/19 06:02:51 PM
#41675   Fingers crossed for GTAT shareholders. Renee 03/28/19 06:59:54 PM
#41674   Does anyone know in general 'about' how many TheGreatSwami 03/28/19 06:46:10 PM
#41673   Every quarterly report made it look like everything TheGreatSwami 03/28/19 06:42:01 PM
#41672   GTAT still has 2 more cases open. TheGreatSwami 03/28/19 06:40:00 PM
#41671   Very disappointing. TheGreatSwami 03/28/19 06:39:16 PM
#41670   This could mean, but not sure, GTAT is TheGreatSwami 03/28/19 06:38:22 PM
#41669   GTAT NEW common shares quoted on the OTC: Renee 03/18/19 03:06:53 PM
#41668   http://www.neutrontherapeutics.com/news/pr_091516-2/ Revolutionary stuff sold LarryAshy 10/02/18 08:55:29 PM
#41667   Request for Final Decree TheGreatSwami 07/18/18 04:22:25 PM
#41665   Got him to believe...lol Looks like It's happening! a surfer 11/08/17 08:06:25 PM
#41664   This may take a while. Last quarterly TheGreatSwami 09/25/17 01:29:33 PM
#41663   Latest quartlerly report says 3-6 months as the TheGreatSwami 07/20/17 01:48:40 PM
#41662   Sweeet todd72113 07/15/17 01:38:30 AM
#41661   Press Release: GT Advanced Technologies Releases Next TheGreatSwami 07/14/17 09:24:50 AM
#41660   AAAAAAHAHAHAHAHA!!!!!!!!!!!!!!! samplescave 07/12/17 10:10:09 AM
#41659   investorshub.advfn.com/uimage/uploads/2015/10/25/hxicg2599301.jpg alchemytrader 07/08/17 01:14:42 PM
#41657   "Halvor was allegedly let go recently." TheGreatSwami 06/29/17 02:57:17 PM
#41656   We should all go request free shares into Jiminy Cricket 06/28/17 11:55:03 AM
#41655   From what I hear, the common stock for TheGreatSwami 06/28/17 11:18:25 AM
#41654   GT still leading the Multi-Crystalline Ingot Furnace Market 2017. TheGreatSwami 06/27/17 12:16:26 PM
#41653   Just so you know, as you may have Newbie Long GT 06/24/17 06:27:44 PM
#41652   The bondholders and unsecured creditors will receive 16% TheGreatSwami 04/28/17 10:46:06 AM
#41651   Here are a couple of interesting articles on Netsurfer 04/28/17 07:49:04 AM
#41650   I bought bonds in the "old" gtat. TheGreatSwami 04/24/17 11:05:19 AM
#41649   Traffic has been real light as most people Netsurfer 04/24/17 10:50:44 AM
#41648   How / why did you get bonds / Netsurfer 04/24/17 10:43:54 AM
#41647   Good find. I figured you found that TheGreatSwami 04/24/17 10:32:58 AM
#41646   The link was not in the article. It Netsurfer 04/24/17 10:29:39 AM
#41645   So I went 50/50 getting shares and bonds. TheGreatSwami 04/24/17 10:27:11 AM
#41644   I read the 1 billion dollar law suit TheGreatSwami 04/24/17 10:15:18 AM
#41643   It will be at least that long. Netsurfer 04/24/17 10:04:25 AM
#41642   Looks like it will be another 3-6 months TheGreatSwami 04/24/17 09:23:36 AM
#41641   A lot of claims being disallowed: TheGreatSwami 04/11/17 02:55:52 PM
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