The Manufacturers Life Insurance Company lowered its position in Vicor Corporation (NASDAQ:VICR – Free Report) by 12.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 530,885 shares of the electronics maker’s stock after selling 72,479 shares during the period. The Manufacturers Life Insurance Company’s holdings in Vicor were worth $201,620,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Vicor by 6.0% during the 1st quarter. Royal Bank of Canada now owns 15,167 shares of the electronics maker’s stock valued at $709,000 after purchasing an additional 857 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Vicor by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker’s stock valued at $633,000 after buying an additional 563 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Vicor by 4,634.5% in the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker’s stock worth $12,379,000 after buying an additional 259,022 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Vicor by 38.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,541 shares of the electronics maker’s stock worth $1,943,000 after buying an additional 11,525 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Vicor by 56.1% in the first quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker’s stock worth $413,000 after buying an additional 3,184 shares during the period. Institutional investors own 47.45% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports 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 upgraded Vicor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Roth Capital increased their target price on Vicor from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Zacks Research downgraded Vicor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Craig Hallum boosted their target price on shares of Vicor to $450.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vicor currently has an average rating of “Moderate Buy” and an average price target of $381.67.
Vicor Trading Down 3.2%
Shares of VICR stock opened at $178.05 on Friday. Vicor Corporation has a twelve month low of $47.56 and a twelve month high of $382.65. The stock has a fifty day simple moving average of $218.82 and a two-hundred day simple moving average of $236.70. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 57.07 and a beta of 2.35.
Vicor (NASDAQ:VICR – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The electronics maker reported $1.04 EPS for the quarter, beating the consensus estimate of $0.65 by $0.39. The firm 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 business’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. Research analysts predict that Vicor Corporation will post 3.28 EPS for the current fiscal year.
Insider Activity
In other news, CEO Patrizio Vinciarelli sold 20,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $323.05, for a total value of $6,461,000.00. Following the completion of the sale, the chief executive officer owned 8,428,090 shares in the company, valued at approximately $2,722,694,474.50. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Philip D. Davies sold 3,073 shares of the company’s 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 sale, the vice president directly owned 1,920 shares of the company’s stock, valued at $685,382.40. The trade was a 61.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 177,536 shares of company stock worth $59,194,338. 28.30% of the stock is owned by company insiders.
Vicor Profile
Vicor Corporation (NASDAQ: VICR) designs, manufactures and markets modular power components and power systems. The company’s products are used to convert, regulate and distribute electrical power in electronic systems, with an emphasis on high-density, efficient and scalable power-conversion technology.
Its portfolio includes AC-to-DC and DC-to-DC power modules, bus converters, point-of-load regulators, power accessories and complete power systems. Vicor’s Factorized Power Architecture separates power conversion, transformation and regulation functions to help customers address power-density, thermal-management and system-design requirements.
Vicor serves customers in markets including data centers and communications infrastructure, automotive and transportation, aerospace and defense, industrial equipment, and other high-performance electronics applications.
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