Key Points
- Vicor VP Philip Davies sold 3,073 shares at an average price of $177.70, generating $546,072.10. His remaining stake fell to 1,920 shares, a 61.55% reduction.
- Vicor shares opened at $178.76 and were down 1.6%; the stock has traded between $47.56 and $382.65 over the past year and carries a $8.24 billion market capitalization.
- The company reported stronger-than-expected quarterly results, with EPS of $1.04 versus $0.65 expected and revenue of $143.35 million, up 49.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $381.67.
Vicor Corporation (NASDAQ:VICR - Get Free Report) VP Philip Davies sold 3,073 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $177.70, for a total value of $546,072.10. Following the completion of the sale, the vice president owned 1,920 shares of the company's stock, valued at approximately $341,184. This represents a 61.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Vicor Trading Down 1.6%
Shares of NASDAQ:VICR opened at $178.76 on Friday. Vicor Corporation has a 12 month low of $47.56 and a 12 month high of $382.65. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 57.30 and a beta of 2.35. The firm's 50-day moving average is $234.31 and its 200 day moving average is $235.71.
Vicor (NASDAQ:VICR - Get Free Report) last released its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.39. The business had revenue of $143.35 million for the quarter, compared to analyst estimates of $138.37 million. Vicor had a return on equity of 19.83% and a net margin of 30.65%.The business's revenue was up 49.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. As a group, equities analysts forecast that Vicor Corporation will post 3.28 EPS for the current fiscal year.
Institutional Investors Weigh In On Vicor
Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Vicor by 6.0% in the 1st quarter. Royal Bank of Canada now owns 15,167 shares of the electronics maker's stock worth $709,000 after buying an additional 857 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Vicor by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker's stock valued at $633,000 after purchasing an additional 563 shares during the last quarter. Millennium Management LLC boosted its holdings in Vicor by 4,634.5% in the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock worth $12,379,000 after acquiring an additional 259,022 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Vicor by 38.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,541 shares of the electronics maker's stock worth $1,943,000 after purchasing an additional 11,525 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Vicor by 56.1% during the first quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker's stock worth $413,000 after buying an additional 3,184 shares during the period. Hedge funds and other institutional investors own 47.45% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on VICR shares. Craig Hallum boosted their price objective on shares of Vicor to $450.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Roth Capital raised their target price on shares of Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Needham & Company LLC decreased their price target on shares of Vicor from $400.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Weiss Ratings downgraded Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Finally, Zacks Research cut Vicor from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $381.67.
View Our Latest Stock Analysis on VICR
About Vicor
(
Get Free Report)
Vicor Corporation is a designer and manufacturer of modular power components and systems, serving a wide range of industries that demand high performance and efficiency. Headquartered in Andover, Massachusetts, the company develops power conversion solutions that help customers optimize energy delivery in applications from telecommunications and data centers to industrial and automotive systems.
The company's product portfolio includes high-density DC-DC converters, AC-DC front-end modules, point-of-load regulators and complete power systems that combine multiple conversion stages in a single package.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
