Vicor (NASDAQ:VICR) Shares Down 10.5% – Here’s Why

Vicor Corporation (NASDAQ:VICR) fell 10.5% on Thursday. The company traded as low as $218.00 and last traded at $219.4740. 170,040 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 849,410 shares. The stock had previously closed at $245.35.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VICR. Wall Street Zen raised shares of Vicor from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Roth Capital restated a “buy” rating and issued a $375.00 target price on shares of Vicor in a research note on Tuesday, September 22nd. Weiss Ratings lowered shares of Vicor from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Craig Hallum raised their price target on shares of Vicor to $450.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Needham & Company LLC lifted their price target on shares of Vicor from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $391.67.

Vicor Trading Down 12.9%

The business has a 50 day simple moving average of $229.26 and a two-hundred day simple moving average of $249.28. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 61.38 and a beta of 2.37.

Vicor (NASDAQ:VICR) last released its 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. Vicor had a return on equity of 19.83% and a net margin of 30.65%. The company 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 business posted $0.91 EPS. The business’s revenue was up 49.3% on a year-over-year basis. Research analysts anticipate that Vicor Corporation will post 4.07 EPS for the current fiscal year.

Insider Activity at Vicor

In other Vicor news, Director Zmira Lavie sold 908 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $250.00, for a total transaction of $227,000.00. Following the transaction, the director directly owned 908 shares in the company, valued at $227,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Philip 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 transaction of $546,072.10. Following the transaction, the vice president owned 1,920 shares in the company, valued at $341,184. This trade represents a 61.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,053 shares of company stock valued at $7,745,984 over the last ninety days. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On Vicor

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Vicor in the second quarter worth about $934,612,000. Andar Capital Management HK Ltd acquired a new stake in Vicor during the second quarter valued at approximately $101,100,000. 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 valued at $97,142,000 after buying an additional 171,175 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Vicor by 43.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 536,274 shares of the electronics maker’s stock valued at $86,340,000 after buying an additional 162,186 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Vicor during the 2nd quarter worth approximately $53,161,000. Institutional investors own 47.45% of the company’s stock.

Vicor Company Profile

Vicor Corporation (NASDAQ:VICR) designs, develops, manufactures and markets modular power-conversion products and systems. Its technologies are used to convert, regulate and distribute electrical power in electronic equipment, with an emphasis on compact, efficient and scalable power-delivery architectures.

The company’s product portfolio includes AC-to-DC and DC-to-DC converters, power modules, power systems and related components. Vicor’s Factorized Power Architecture and associated products are designed to support power delivery from the source to processors, memory, communications equipment and other demanding loads.

Founded in 1981 and headquartered in Andover, Massachusetts, Vicor serves customers and markets worldwide.