Vicor (NASDAQ:VICR) Trading Up 9.6% – What’s Next?
by Mitch Edgeman · The Markets DailyShares of Vicor Corporation (NASDAQ:VICR – Get Free Report) rose 9.6% during mid-day trading on Monday . The company traded as high as $353.89 and last traded at $358.4270. Approximately 442,611 shares traded hands during trading, a decline of 47% from the average daily volume of 841,972 shares. The stock had previously closed at $326.93.
Analyst Ratings Changes
Several analysts have recently commented on VICR shares. Wall Street Zen cut shares of Vicor from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Craig Hallum upped their price objective on Vicor to $450.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Roth Mkm increased their price objective on Vicor from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Needham & Company LLC lifted their target price on Vicor to $400.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Vicor in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $408.33.
Get Our Latest Stock Analysis on VICR
Vicor Trading Up 3.5%
The firm’s 50 day moving average price is $296.76 and its 200-day moving average price is $205.85. The company has a market cap of $17.31 billion, a P/E ratio of 127.02 and a beta of 2.36.
Vicor (NASDAQ:VICR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Vicor had a net margin of 28.98% and a return on equity of 20.21%. The business had revenue of $112.97 million during the quarter, compared to the consensus estimate of $109.05 million. During the same period in the previous year, the firm posted $0.06 earnings per share. Vicor’s revenue for the quarter was up 20.2% compared to the same quarter last year. Analysts predict that Vicor Corporation will post 2.94 earnings per share for the current fiscal year.
Insider Buying and Selling at Vicor
In other news, CEO Patrizio Vinciarelli sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $193.21, for a total value of $9,660,500.00. Following the transaction, the chief executive officer directly owned 8,895,090 shares in the company, valued at $1,718,620,338.90. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 483,630 shares of company stock valued at $134,697,091. Corporate insiders own 28.30% of the company’s stock.
Hedge Funds Weigh In On Vicor
Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in shares of Vicor by 3,918.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 432,189 shares of the electronics maker’s stock worth $47,368,000 after buying an additional 421,435 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Vicor by 1,542.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 439,820 shares of the electronics maker’s stock worth $48,205,000 after acquiring an additional 413,038 shares during the last quarter. Millennium Management LLC boosted its stake in Vicor by 4,634.5% during the 1st 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Vicor by 1,921.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 267,882 shares of the electronics maker’s stock valued at $13,319,000 after purchasing an additional 254,630 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new position in Vicor during the third quarter valued at approximately $12,625,000. Institutional investors and hedge funds own 47.45% of the company’s stock.
Vicor Company Profile
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.