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

Vicor (NASDAQ:VICR)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $320.00 price objective on the electronics maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 11.17% from the company’s current price.

Several other equities analysts have also weighed in on the company. Zacks Research lowered Vicor from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings lowered Vicor from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Roth Capital lifted their price objective on Vicor from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Craig Hallum lifted their price objective on Vicor to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.67.

Vicor Trading Up 4.3%

NASDAQ VICR traded up $11.80 during trading on Tuesday, hitting $287.86. 441,270 shares of the company traded hands, compared to its average volume of 851,806. Vicor has a 12 month low of $47.56 and a 12 month high of $382.65. The business has a fifty day simple moving average of $210.73 and a 200 day simple moving average of $238.93. The company has a market capitalization of $13.27 billion, a P/E ratio of 92.28 and a beta of 2.35.

Vicor (NASDAQ:VICR) last posted its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share 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 for the quarter, compared to analyst estimates of $138.37 million. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue was up 49.3% compared to the same quarter last year. Equities research analysts predict that Vicor will post 3.64 EPS for the current fiscal year.

Insider Activity at Vicor

In related news, VP Philip D. Davies sold 3,073 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $356.97, for a total transaction of $1,096,968.81. Following the transaction, the vice president directly owned 1,920 shares in the company, valued at $685,382.40. The trade was a 61.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrizio Vinciarelli sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $318.88, for a total value of $6,377,600.00. Following the transaction, the chief executive officer owned 8,348,090 shares in the company, valued at $2,662,038,939.20. This represents a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,826 shares of company stock worth $23,703,427 over the last three months. Company insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On Vicor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Vicor during the second quarter valued at approximately $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 boosted its holdings in shares of Vicor by 39.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 603,364 shares of the electronics maker’s stock worth $97,142,000 after acquiring an additional 171,175 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Vicor by 43.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 536,274 shares of the electronics maker’s stock worth $86,340,000 after acquiring an additional 162,186 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Vicor in the 2nd quarter worth approximately $53,161,000. 47.45% of the stock is currently owned by institutional investors.

Vicor Company Profile

Vicor Corporation (NASDAQ: VICR) designs, manufactures and markets modular power components and power systems. The company’s products are used to convert, regulate and distribute electrical power in electronic systems, with an emphasis on high-density, efficient and scalable power-conversion technology.

Its portfolio includes AC-to-DC and DC-to-DC power modules, bus converters, point-of-load regulators, power accessories and complete power systems. Vicor’s Factorized Power Architecture separates power conversion, transformation and regulation functions to help customers address power-density, thermal-management and system-design requirements.

Vicor serves customers in markets including data centers and communications infrastructure, automotive and transportation, aerospace and defense, industrial equipment, and other high-performance electronics applications.