Maxi Investments CY Ltd bought a new stake in Vicor Corporation (NASDAQ:VICR – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,500 shares of the electronics maker’s stock, valued at approximately $2,089,000.
Several other large investors have also recently added to or reduced their stakes in the business. Convergence Investment Partners LLC acquired a new position in Vicor during the fourth quarter worth approximately $1,631,000. The Manufacturers Life Insurance Company raised 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 purchasing an additional 171,175 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Vicor in the 1st quarter valued at $761,000. Renaissance Technologies LLC boosted its holdings in shares of Vicor by 363.7% in the 1st quarter. Renaissance Technologies LLC now owns 47,300 shares of the electronics maker’s stock valued at $7,615,000 after purchasing an additional 37,100 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Vicor by 128.6% during the 4th quarter. Strs Ohio now owns 9,600 shares of the electronics maker’s stock valued at $1,052,000 after buying an additional 5,400 shares during the period. 47.45% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Needham & Company LLC dropped their price objective on Vicor from $400.00 to $320.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Weiss Ratings cut Vicor from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Zacks Research downgraded Vicor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Craig Hallum upped their price target on Vicor to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Roth Capital upped their price target on Vicor from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.67.
Vicor Stock Performance
NASDAQ:VICR opened at $200.54 on Monday. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 64.28 and a beta of 2.37. The firm’s fifty day simple moving average is $260.09 and its 200 day simple moving average is $233.79. Vicor Corporation has a twelve month low of $46.96 and a twelve month high of $382.65.
Vicor (NASDAQ:VICR – Get Free Report) last announced its quarterly 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. Vicor had a net margin of 30.65% and a return on equity of 19.83%. The firm had revenue of $143.35 million during the quarter, compared to analysts’ expectations of $138.37 million. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 49.3% on a year-over-year basis. On average, analysts predict that Vicor Corporation will post 3.12 earnings per share for the current year.
Insider Activity at Vicor
In other news, CEO Patrizio Vinciarelli sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $279.50, for a total value of $5,590,000.00. Following the completion of the sale, the chief executive officer owned 8,628,090 shares of the company’s stock, valued at $2,411,551,155. This represents a 0.23% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 313,659 shares of company stock worth $101,500,682 in the last 90 days. Insiders own 28.30% of the company’s stock.
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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