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GT Advanced Technologies (GTAT) Hits a 52-Week High

NEW YORK (TheStreet) -- GT Advanced Technologies (GTAT) was gaining 2.9% to $19.82 Wednesday after hitting a 52-week high of $19.89 a share.

The new high comes just a day after GT Advanced hit its previous 52-week high of $19.73 a share.

Shares of GT Advanced were gaining since the company announced a realignment of its manufacturing, engineering, and supply chain resources earlier in the week. The realignment included the elimination of about 70 positions, and a one-time share of $13.4 million spread of the second and third quarters.

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GTAT Chart

GTAT data by YCharts

"GT Advanced Technologies Inc. is diversified technology company with crystal growth equipment and solutions for the global solar, light emitting diode (LED) and electronics industries. The Company operates in three segments: its polysilicon business, its photovoltaic (PV), business and its sapphire business. The Company's principal products are Silicon Deposition Reactors (SDR) and related equipment used to produce polysilicon, the key raw material used in silicon-based solar wafers and cells; Advanced sapphire crystallization furnaces (ASF) which are used to crystallize sapphire boules, and Directional solidification (DSS) furnaces and related equipment used to cast multicrystalline and MonoCast crystalline silicon ingots. On January 7, 2013, the Company announced the idling of its HiCz pilot manufacturing facility in Hazelwood, Missouri. In May 2013, the Company acquired the business of Thermal Technology LLC."

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