Vicor (NASDAQ:VICR) Stock Price Up 12.3% – Here’s What Happened
by Sarita Garza · The Markets DailyVicor Corporation (NASDAQ:VICR – Get Free Report) shares traded up 12.3% during mid-day trading on Tuesday . The company traded as high as $160.70 and last traded at $159.6550. 542,962 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 803,434 shares. The stock had previously closed at $142.22.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Vicor in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Vicor from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Roth Mkm restated a “buy” rating and issued a $175.00 price objective on shares of Vicor in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vicor currently has a consensus rating of “Buy” and a consensus price target of $118.33.
Check Out Our Latest Stock Analysis on VICR
Vicor Trading Up 12.7%
The stock’s 50 day moving average price is $171.01 and its 200 day moving average price is $117.23. The firm has a market cap of $7.27 billion, a PE ratio of 61.47 and a beta of 1.83.
Vicor (NASDAQ:VICR – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The electronics maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.38 by $0.63. Vicor had a return on equity of 18.73% and a net margin of 26.19%.The company had revenue of $362.70 million for the quarter, compared to analyst estimates of $107.78 million. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year.
Insider Buying and Selling
In related news, Director Estia J. Eichten sold 38,587 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $168.27, for a total transaction of $6,493,034.49. Following the completion of the sale, the director directly owned 190,838 shares of the company’s stock, valued at approximately $32,112,310.26. This trade represents a 16.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrizio Vinciarelli sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $201.54, for a total transaction of $10,077,000.00. Following the completion of the transaction, the chief executive officer owned 9,608,163 shares in the company, valued at $1,936,429,171.02. This represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 533,625 shares of company stock valued at $96,602,809. 31.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in 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 valued at $47,368,000 after purchasing an additional 421,435 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Vicor by 1,542.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 439,820 shares of the electronics maker’s stock worth $48,205,000 after buying an additional 413,038 shares during the last quarter. Millennium Management LLC raised its holdings in Vicor by 4,634.5% in the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker’s stock valued at $12,379,000 after acquiring an additional 259,022 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Vicor by 1,921.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 267,882 shares of the electronics maker’s stock valued at $13,319,000 after acquiring an additional 254,630 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Vicor during the 3rd quarter valued at $12,625,000. Institutional investors and hedge funds own 47.45% of the company’s stock.
About Vicor
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.