Less than six months ago GT Solar (SOLR) made a key purchase of Crystal Systems that has allowed them to move from strictly offering solar manufacturing equipment to LED manufacturing equipment as well. It’s already paying off. The company has announced that it received its first orders totaling $84 million for its sapphire crystalization systems used for LED production.
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“GT Solar is pleased that both Jiangsu … Read the rest
According to Barron’s, Credit Suisse is out this morning downgrading several solar stocks due to concerns about oversupply and softening demand next year. Analyst Satya Kumar sees new capacity of 2GW/month this quarter with an overall increase of 50% next year while demand remains flat. As a result, pricing could decline quicker than expected.
He’s downgrading six solar stocks, all of which are under pressure today.
Outperform ==> Neutral: First Solar (FSLR), Trina Solar … Read the rest
Piper Jaffray initiated coverage on several solar stocks last night and is generally bullish with 9 Overweights and a few Neutral ratings. Most of the price targets are way above the current prices. Here’s the run down…
Overweight:
First Solar (FSLR) with 200 price target.
Renesola (SOL) with 20 price target.
Yingli Green Energy (YGE) 14 PT.
LDK Solar (LDK) 12 PT
SatCon Technology (SATC) 5 PT
Trina Solar (TSL) 35 PT
SunPower (SPWRA) 20 … Read the rest
GT Solar (SOLR) has turned in an outstanding quarter, smashing analyst estimates in the process. The company reported an EPS of .11/share on revenues of $135 million. That was more than double the analyst estimates for both the EPS and revenue number. While the sequential growth isn’t there, quarter over quarter EPS growth comes in at 120% while revenue growth comes in at 88%.
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CEO … Read the rest
GT Solar (SOLR) has received a $23.4 million follow-on order from South Korea-based polysilicon producer OCI Company, Ltd. for its newest SDR(TM) 400 CVD reactors and other equipment to support OCI’s polysilicon plant expansion. The SDR 400 are the most energy efficient reactors in the industry.
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“We are pleased by the confidence OCI has demonstrated with our polysilicon production technology,” said Tom Gutierrez, GT Solar’s … Read the rest
GT Solar (SOLR) has made a very interesting move this morning. The company is diversifying its manufacturing operations and adding LED manufacturing to its solar ingot manufacturing business. Smart move. They purchased privately held Crystal Systems of Salem, MA which manufacturers large area sapphire substrates used in LED lighting, defense, medical and aerospace industries.
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GT Solar is paying $24 million in cash, 5.4 million shares … Read the rest
GT Solar just announced a new $70 million contract with a large Asian polysilicon manufacturer. Under the terms of the agreement, GT will provide the manufacturer with new CVD equipment and other services related to the production on polysilicon.
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In a press release, Tom Gutierrez, president and chief executive officer of GT Solar, commented on the news:
"We are pleased to announce this new order for … Read the rest
GT Solar (SOLR) returned to quarter over quarter growth after two sub par quarters in the last half of last year. The company posted strong results and beat Wall St estimates after the bell yesterday.
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The company reported an EPS of .23 vs the Wall St estimate of .19 on revenues of $194.7 million vs the Wall St estimate of $183 million. That’s quarter over quarter … Read the rest
Ardour Capital upgraded GT Solar (SOLR) from Hold to Buy and increased price target from $6 to $7.20. Shares are up nearly 5% today, but holding below what is now resistance of the 200 day moving average. Get a FREE SOLR Trend Analysis
Sidoti upgraded Cree Inc (CREE) from Neutral to Buy and has a $90 price target. Shares are up 8% and pushing back above support at the 50 day moving average and possibly … Read the rest
GT Solar (SOLR) is seeing just a bit of positive pre-market action on news it has released new high performance ingot growth furnace for the solar industry providing 15% increased throughput, energy efficiency and higher quality. The new DSS450HP ingot furnace begin shipping this month and are expected to be installed at customer sites in May.
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“Our DSS450HP furnace delivers a new level of performance that … Read the rest