Vicor (NASDAQ:VICR) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Posted by Stanley Muller on Oct 22nd, 2026

Vicor (NASDAQ:VICR – Get Free Report) posted its earnings results on Tuesday. The electronics maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01, FiscalAI reports. Vicor had a net margin of 32.15% and a return on equity of 22.49%. The business had revenue of $197.11 million during the quarter, compared to the consensus estimate of $187.03 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s revenue was up 78.5% on a year-over-year basis.

Here are the key takeaways from Vicor’s conference call:

Q3 revenue rose sharply to $197.1 million, up 37.5% sequentially and 78.5% year over year, while gross margin expanded to 68.3% and diluted EPS reached $1.33.
Management expects approximately 10% sequential product-revenue growth in Q4 and at least $43 million in royalty revenue, excluding new license agreements; bookings exceeded $100 million in the first two weeks of Q4 and the one-year backlog ended at roughly $406 million.
Demand for Vicor’s second-generation VPD and factorized-power technology is strengthening among AI customers, with management citing rising current requirements and customer interest following Open Compute meetings. The company is also pursuing additional VPD licenses at escalating royalty rates.
Vicor purchased sites for Fab 2 and Fab 3 to address capacity constraints, with initial Fab 2 equipment deployment expected in Q2 2027 and potential capacity expansion of more than five times Fab 1; management said the projects can be funded without raising capital.
Royalty revenue remains potentially lumpy despite management’s view that it is becoming recurring, while legal expense rose to $16.1 million and is expected to average about 20% of royalty revenue in the near term. Near-term capacity limitations may also restrict how quickly Vicor can serve additional hyperscaler and OEM demand.

Vicor Stock Up 4.5%

Vicor stock opened at $213.42 on Thursday. The company’s 50-day moving average price is $228.51 and its 200-day moving average price is $250.98. Vicor has a twelve month low of $79.00 and a twelve month high of $382.65. The company has a market cap of $9.84 billion, a PE ratio of 55.87 and a beta of 2.37.

Key Headlines Impacting Vicor

Here are the key news stories impacting Vicor this week:

Positive Sentiment: Third-quarter revenue rose 78.5% year over year to $197.1 million, while diluted EPS increased to $1.33 from $0.63. Revenue exceeded several analyst estimates, although the EPS result was slightly below some higher consensus figures. Vicor third-quarter results
Positive Sentiment: AI demand is driving growth: royalty revenue reached $66.6 million, more than triple the year-earlier level, and Vicor granted its first VPD license to an AI OEM. Management expects at least $43 million of royalty revenue in the fourth quarter. Vicor fourth-quarter outlook
Positive Sentiment: Management projects approximately 10% fourth-quarter product-revenue growth and highlighted strong demand for its VPD power technology from AI customers and hyperscalers. Backlog climbed 166% year over year to $406 million. Vicor earnings call highlights
Positive Sentiment: Vicor is expanding manufacturing capacity by acquiring two nearby sites, targeting nearly five times the capacity of its existing Fab-1 footprint. Needham reaffirmed its Buy rating and assigned a $350 price target. Needham rating
Neutral Sentiment: Gross margin expanded to 68.3%, and operating cash flow reached $69.7 million; however, operating expenses rose substantially, partly because of intellectual-property enforcement costs. Vicor financial results summary
Negative Sentiment: Investors continue to face patent-litigation and ITC-investigation risks, while reported insider activity showed substantial selling and no purchases over the past six months. These factors could temper enthusiasm after the stock’s strong advance.

Insider Buying and Selling

In other news, VP Philip D. Davies sold 3,073 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $177.70, for a total value of $546,072.10. Following 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 SEC, which can be accessed through this link. Also, CEO Patrizio Vinciarelli sold 20,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $316.13, for a total transaction of $6,322,600.00. Following the completion of the sale, the chief executive officer directly owned 8,307,390 shares in the company, valued at $2,626,215,200.70. This trade represents a 0.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 27,053 shares of company stock worth $7,745,984. Corporate insiders own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VICR shares. Needham & Company LLC restated a “buy” rating and issued a $350.00 price objective on shares of Vicor in a research note on Tuesday. Wall Street Zen raised Vicor from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Zacks Research upgraded Vicor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Roth Capital set a $360.00 price target on Vicor in a report on Wednesday. Finally, Weiss Ratings lowered Vicor from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $386.67.

Get Our Latest Research Report on VICR

About Vicor

(Get Free Report)

Vicor Corporation (NASDAQ: VICR) designs, develops, manufactures and markets modular power components and systems. The company’s products convert, regulate and distribute electrical power for electronic equipment, with an emphasis on high-performance, compact and efficient power solutions.

Its portfolio includes AC-to-DC and DC-to-DC converters, regulators, power modules, power distribution components and complete power systems. Vicor’s technologies include its Factorized Power Architecture and high-density ChiP packaging, which are designed to help engineers manage power more efficiently while reducing the size and complexity of electronic systems.

Vicor serves customers in industries such as data centers and computing, telecommunications, automotive, aerospace and defense, industrial equipment, and consumer electronics.