Needham & Company LLC Reaffirms “Buy” Rating for Vicor (NASDAQ:VICR)

Vicor (NASDAQ:VICR)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $350.00 target price on the electronics maker’s stock. Needham & Company LLC‘s price target would indicate a potential upside of 94.46% from the stock’s current price.

VICR has been the topic of a number of other reports. Craig Hallum boosted their price objective on shares of Vicor to $450.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Wall Street Zen raised shares of Vicor from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings lowered shares of Vicor from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Roth Capital reissued a “buy” rating and set a $375.00 price objective on shares of Vicor in a report on Tuesday, September 22nd. Finally, Zacks Research raised shares of Vicor from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $386.67.

Vicor Stock Down 15.7%

Shares of Vicor stock traded down $33.43 during trading on Tuesday, reaching $179.99. The company’s stock had a trading volume of 1,325,889 shares, compared to its average volume of 881,703. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 47.12 and a beta of 2.37. Vicor has a 1-year low of $80.29 and a 1-year high of $382.65. The company has a 50-day simple moving average of $227.57 and a two-hundred day simple moving average of $251.15.

Vicor (NASDAQ:VICR) last posted its quarterly earnings data on Tuesday, October 20th. The electronics maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $197.11 million during the quarter, compared to analysts’ expectations of $187.03 million. Vicor had a return on equity of 22.49% and a net margin of 32.15%. The business’s quarterly revenue was up 78.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. As a group, analysts anticipate that Vicor will post 4.07 earnings per share for the current year.

Insider Activity

In other Vicor news, CEO Patrizio Vinciarelli sold 20,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $316.13, for a total value of $6,322,600.00. Following the sale, the chief executive officer directly owned 8,307,390 shares of the company’s stock, valued at approximately $2,626,215,200.70. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip D. Davies sold 3,073 shares of the company’s 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 completion of the sale, the vice president directly owned 1,920 shares in the company, valued at approximately $341,184. The trade was a 61.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,053 shares of company stock valued at $7,745,984 over the last ninety days. 28.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vicor

A number of institutional investors have recently modified their holdings of the stock. Andar Capital Management HK Ltd purchased a new position in shares of Vicor during the 2nd quarter valued at about $101,100,000. BlackRock Inc. purchased a new position in shares of Vicor during the 2nd quarter valued at about $934,612,000. The Manufacturers Life Insurance Company raised its stake in shares of Vicor by 39.6% during the 1st 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Vicor by 43.4% during the 1st 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 during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Vicor by 23.5% during the 1st quarter. First Trust Advisors LP now owns 163,953 shares of the electronics maker’s stock valued at $26,396,000 after buying an additional 31,184 shares during the last quarter. Hedge funds and other institutional investors own 47.45% of the company’s stock.

Vicor Company Profile

Vicor Corporation (NASDAQ: VICR) designs, develops, manufactures and markets modular power components and systems. The company’s products convert, regulate and distribute electrical power for electronic equipment, with an emphasis on high-performance, compact and efficient power solutions.

Its portfolio includes AC-to-DC and DC-to-DC converters, regulators, power modules, power distribution components and complete power systems. Vicor’s technologies include its Factorized Power Architecture and high-density ChiP packaging, which are designed to help engineers manage power more efficiently while reducing the size and complexity of electronic systems.

Vicor serves customers in industries such as data centers and computing, telecommunications, automotive, aerospace and defense, industrial equipment, and consumer electronics.