Key Points
- Vicor CEO Patrizio Vinciarelli sold 20,000 shares at an average price of $316.13, generating proceeds of approximately $6.32 million. He retained 8.31 million shares, with ownership declining 0.24%.
- Vicor reported quarterly earnings of $1.04 per share, exceeding estimates of $0.65, while revenue rose 49.3% year over year to $143.35 million.
- Analyst sentiment remains positive, with an average “Buy” rating and a $391.67 price target; institutional investors own 47.45% of the company.
Vicor Corporation (NASDAQ:VICR - Get Free Report) CEO Patrizio Vinciarelli sold 20,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $316.13, for a total value of $6,322,600.00. Following the sale, the chief executive officer owned 8,307,390 shares of the company's stock, valued at approximately $2,626,215,200.70. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Vicor Stock Down 1.1%
NASDAQ VICR opened at $305.61 on Tuesday. The stock has a market capitalization of $14.09 billion, a PE ratio of 97.95 and a beta of 2.37. Vicor Corporation has a 12-month low of $48.53 and a 12-month high of $382.65. The company has a 50 day moving average price of $221.14 and a two-hundred day moving average price of $244.72.
Vicor (NASDAQ:VICR - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $138.37 million. Vicor had a net margin of 30.65% and a return on equity of 19.83%. Vicor's revenue for the quarter was up 49.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. As a group, equities analysts anticipate that Vicor Corporation will post 4.07 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Vicor during the second quarter valued at about $934,612,000. Andar Capital Management HK Ltd bought a new position in Vicor in the second quarter worth $101,100,000. The Manufacturers Life Insurance Company boosted its stake in Vicor by 39.6% during the first quarter. The Manufacturers Life Insurance Company now owns 603,364 shares of the electronics maker's stock worth $97,142,000 after buying an additional 171,175 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Vicor by 43.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 536,274 shares of the electronics maker's stock valued at $86,340,000 after acquiring an additional 162,186 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Vicor in the 2nd quarter valued at approximately $53,161,000. Institutional investors own 47.45% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on VICR shares. Weiss Ratings cut shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, September 18th. Craig Hallum lifted their price objective on Vicor to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Zacks Research raised Vicor from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 1st. Roth Capital restated a "buy" rating and set a $375.00 target price on shares of Vicor in a research note on Tuesday, September 22nd. Finally, Needham & Company LLC raised their target price on Vicor from $320.00 to $350.00 and gave the company a "buy" rating in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $391.67.
Read Our Latest Research Report on Vicor
Vicor Company Profile
(
Get Free Report)
Vicor Corporation (NASDAQ:VICR) designs, develops, manufactures and markets modular power-conversion products and systems. Its technologies are used to convert, regulate and distribute electrical power in electronic equipment, with an emphasis on compact, efficient and scalable power-delivery architectures.
The company's product portfolio includes AC-to-DC and DC-to-DC converters, power modules, power systems and related components. Vicor's Factorized Power Architecture and associated products are designed to support power delivery from the source to processors, memory, communications equipment and other demanding loads.
Founded in 1981 and headquartered in Andover, Massachusetts, Vicor serves customers and markets worldwide.
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