Renaissance Technologies LLC Increases Position in Vicor Corporation $VICR

Renaissance Technologies LLC raised its stake in shares of Vicor Corporation (NASDAQ:VICR) by 363.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,300 shares of the electronics maker’s stock after buying an additional 37,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Vicor were worth $7,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Convergence Investment Partners LLC bought a new position in shares of Vicor during the fourth quarter worth $1,631,000. Chicago Capital LLC bought a new stake in Vicor in the 4th quarter valued at $771,000. Washburn Capital Management Inc. purchased a new stake in Vicor in the 4th quarter worth $812,000. Janney Montgomery Scott LLC purchased a new stake in Vicor in the 1st quarter worth $761,000. Finally, Andar Capital Management HK Ltd boosted its holdings in shares of Vicor by 71.9% during the 1st quarter. Andar Capital Management HK Ltd now owns 55,000 shares of the electronics maker’s stock valued at $8,855,000 after purchasing an additional 23,000 shares during the last quarter. Institutional investors own 47.45% of the company’s stock.

Insider Buying and Selling

In other Vicor news, Director Andrew D’amico sold 331 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $319.53, for a total transaction of $105,764.43. Following the sale, the director directly owned 200 shares in the company, valued at $63,906. This represents a 62.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James F. Schmidt sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $331.68, for a total value of $331,680.00. Following the completion of the sale, the chief financial officer directly owned 1,000 shares of the company’s stock, valued at $331,680. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 347,335 shares of company stock valued at $111,936,227. Insiders own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VICR. Zacks Research lowered Vicor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings downgraded Vicor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered Vicor from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Craig Hallum raised their price target on Vicor to $450.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Needham & Company LLC reduced their price objective on Vicor from $400.00 to $320.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $381.67.

Vicor Stock Up 3.0%

Shares of NASDAQ:VICR opened at $213.54 on Tuesday. Vicor Corporation has a 52 week low of $44.37 and a 52 week high of $382.65. The stock has a market capitalization of $9.73 billion, a P/E ratio of 68.44 and a beta of 2.37. The firm has a fifty day simple moving average of $285.03 and a two-hundred day simple moving average of $227.45.

Vicor (NASDAQ:VICR) last announced its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for 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 business’s revenue was up 49.3% compared to the same quarter last year. On average, analysts expect that Vicor Corporation will post 3.12 earnings per share for the current year.

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.