Vicor (NASDAQ:VICR) Stock Price Down 6.7% Following Insider Selling

Vicor Corporation (NASDAQ:VICR)’s share price dropped 6.7% during trading on Friday after an insider sold shares in the company. The stock traded as low as $302.23 and last traded at $309.4890. 109,389 shares were traded during trading, a decline of 87% from the average daily volume of 811,820 shares. The stock had previously closed at $331.59.

Specifically, CEO Patrizio Vinciarelli sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $326.44, for a total transaction of $6,528,800.00. Following the completion of the sale, the chief executive officer owned 8,468,090 shares of the company’s stock, valued at approximately $2,764,323,299.60. This represents 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, CFO James F. Schmidt sold 331 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $334.90, for a total transaction of $110,851.90. Following the completion of the transaction, the chief financial officer owned 331 shares in the company, valued at $110,851.90. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Andrew D’amico sold 754 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $330.00, for a total transaction of $248,820.00. Following the completion of the sale, the director directly owned 754 shares in the company, valued at $248,820. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

Several equities analysts recently issued reports on VICR shares. Craig Hallum boosted their target price on shares of Vicor to $450.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Vicor in a research report on Monday, June 1st. Roth Mkm boosted their price objective on Vicor from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen lowered Vicor from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Needham & Company LLC raised their target price on Vicor to $400.00 and gave the stock a “buy” rating in a research note on Monday. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $408.33.

Vicor Price Performance

The firm has a market capitalization of $14.09 billion, a price-to-earnings ratio of 103.92 and a beta of 2.36. The business’s fifty day simple moving average is $287.59 and its 200 day simple moving average is $200.40.

Vicor (NASDAQ:VICR) last announced its quarterly earnings data on Tuesday, April 21st. The electronics maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $112.97 million for the quarter, compared to analyst estimates of $109.05 million. Vicor had a net margin of 28.98% and a return on equity of 20.21%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Equities research analysts expect that Vicor Corporation will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vicor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Vicor during the 3rd quarter worth approximately $352,000. Intech Investment Management LLC lifted its holdings in shares of Vicor by 36.6% in the third quarter. Intech Investment Management LLC now owns 29,786 shares of the electronics maker’s stock valued at $1,481,000 after purchasing an additional 7,985 shares in the last quarter. Range Financial Group LLC bought a new position in shares of Vicor in the fourth quarter valued at approximately $1,537,000. Convergence Investment Partners LLC purchased a new position in shares of Vicor during the fourth quarter valued at approximately $1,631,000. Finally, Chicago Capital LLC purchased a new position in shares of Vicor during the fourth quarter valued at approximately $771,000. Institutional investors 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.