Why GT Advanced Technologies (GTAT) Stock Is Down On Monday Morning

NEW YORK (TheStreet) --Shares of GT Advanced Technologies Inc. (GTAT) are lower by -8.75% to $17.84 in pre-market trading today following a ratings downgrade to "neutral" from "buy" at UBS (UBS).

The firm said it cut its rating on the diversified technology company with crystal growth equipment and solutions for the global solar, LED, and electronics industries, due to its belief second quarter 2014 sales will not meet the high end of the company's $600 million to $800 million guidance.

UBS lowered its EPS on GT to 12 cents from 17 cents, but kept is $22 price target on the stock.

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GTAT Chart GTAT data by YCharts

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