Vicor (NASDAQ:VICR) Stock Price Down 7.3% – Here’s What Happened

Shares of Vicor Corporation (NASDAQ:VICR) fell 7.3% on Friday . The stock traded as low as $47.56 and last traded at $48.33. 204,820 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 294,730 shares. The stock had previously closed at $52.14.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VICR. Needham & Company LLC reaffirmed a “hold” rating on shares of Vicor in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Vicor from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Vicor has an average rating of “Buy” and an average price target of $43.00.

Vicor Stock Performance

The company has a market cap of $2.19 billion, a P/E ratio of 33.34 and a beta of 1.76. The stock has a 50-day moving average of $49.31 and a two-hundred day moving average of $47.20.

Vicor (NASDAQ:VICR) last released its quarterly earnings data on Tuesday, July 22nd. The electronics maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.18 by $0.73. Vicor had a return on equity of 11.32% and a net margin of 15.44%.The company had revenue of $141.05 million for the quarter, compared to the consensus estimate of $96.43 million. During the same period last year, the business posted $0.10 EPS. Vicor’s quarterly revenue was up 64.3% on a year-over-year basis.

Insiders Place Their Bets

In other news, Director Andrew D’amico sold 5,813 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $63.00, for a total value of $366,219.00. Following the sale, the director directly owned 1,217 shares in the company, valued at $76,671. This represents a 82.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.30% of the stock is owned by insiders.

Institutional Trading of Vicor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chapin Davis Inc. raised its position in Vicor by 265.0% in the first quarter. Chapin Davis Inc. now owns 36,500 shares of the electronics maker’s stock worth $1,707,000 after purchasing an additional 26,500 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Vicor during the first quarter valued at $1,160,000. Principal Financial Group Inc. boosted its stake in Vicor by 2.5% in the first quarter. Principal Financial Group Inc. now owns 114,891 shares of the electronics maker’s stock worth $5,375,000 after buying an additional 2,766 shares in the last quarter. Nuveen LLC purchased a new position in Vicor during the first quarter valued at $8,024,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Vicor by 19.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 32,706 shares of the electronics maker’s stock worth $1,530,000 after acquiring an additional 5,408 shares in the last quarter. Institutional investors own 47.45% of the company’s stock.

Vicor Company Profile

Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as electrical and mechanical accessories.