Empowered Funds LLC lifted its holdings in Vicor Corporation (NASDAQ:VICR – Free Report) by 6,794.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,091 shares of the electronics maker’s stock after purchasing an additional 50,350 shares during the quarter. Empowered Funds LLC’s holdings in Vicor were worth $8,226,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in Vicor by 39.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 603,364 shares of the electronics maker’s stock valued at $97,142,000 after buying an additional 171,175 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Vicor by 9.4% in the first quarter. Quantinno Capital Management LP now owns 5,155 shares of the electronics maker’s stock worth $830,000 after acquiring an additional 444 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Vicor in the first quarter worth about $4,588,000. Entropy Technologies LP purchased a new stake in shares of Vicor during the first quarter worth about $1,003,000. Finally, Renaissance Technologies LLC grew its stake in shares of Vicor by 363.7% during the first quarter. Renaissance Technologies LLC now owns 47,300 shares of the electronics maker’s stock worth $7,615,000 after acquiring an additional 37,100 shares during the last quarter. 47.45% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Vicor from $400.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Zacks Research cut shares of Vicor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings downgraded shares of Vicor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of Vicor from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Roth Capital raised their price target on shares of Vicor from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $381.67.
Vicor Stock Performance
Shares of VICR opened at $207.37 on Friday. The stock has a 50-day moving average of $286.12 and a two-hundred day moving average of $226.31. Vicor Corporation has a one year low of $41.76 and a one year high of $382.65. The stock has a market cap of $9.45 billion, a P/E ratio of 66.46 and a beta of 2.33.
Vicor (NASDAQ:VICR – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share for the quarter, beating 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 company’s revenue was up 49.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. Analysts predict that Vicor Corporation will post 3.12 EPS for the current fiscal year.
Insider Transactions at Vicor
In related news, CFO James F. Schmidt sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $331.68, for a total value of $331,680.00. Following the sale, the chief financial officer owned 1,000 shares in the company, valued at $331,680. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Philip D. Davies sold 3,073 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $356.97, for a total transaction of $1,096,968.81. Following the completion of the transaction, the vice president owned 1,920 shares in the company, valued at approximately $685,382.40. This trade represents a 61.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 364,533 shares of company stock worth $116,351,096. 28.30% of the stock is owned by company insiders.
Vicor 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.
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