Vicor (NASDAQ:VICR) Given Buy Rating at Needham & Company LLC

Vicor (NASDAQ:VICR)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a $320.00 price target on the electronics maker’s stock. Needham & Company LLC’s target price points to a potential upside of 12.35% from the company’s previous close.

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

Vicor Trading Up 3.2%

Shares of NASDAQ:VICR traded up $8.78 during trading on Tuesday, reaching $284.84. 219,664 shares of the stock were exchanged, compared to its average volume of 850,601. Vicor has a 12 month low of $47.56 and a 12 month high of $382.65. The firm has a market cap of $13.13 billion, a PE ratio of 90.84 and a beta of 2.35. The stock has a 50-day moving average price of $210.73 and a 200-day moving average price of $238.93.

Vicor (NASDAQ:VICR) last issued its quarterly 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 return on equity of 19.83% and a net margin of 30.65%.The business had revenue of $143.35 million during the quarter, compared to analysts’ expectations of $138.37 million. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 49.3% compared to the same quarter last year. On average, sell-side analysts expect that Vicor will post 3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrizio Vinciarelli sold 20,000 shares of Vicor stock in a transaction that occurred on 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 sale, the chief executive officer owned 8,348,090 shares of the company’s stock, valued at approximately $2,662,038,939.20. The trade was 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, Director Zmira Lavie sold 908 shares of Vicor stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $250.00, for a total transaction of $227,000.00. Following the completion of the sale, the director directly owned 908 shares in the company, valued at $227,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,826 shares of company stock valued at $23,703,427 in the last 90 days. 28.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Vicor

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Vicor during the second quarter valued at about $934,612,000. Maxi Investments CY Ltd bought a new position in shares of Vicor during the second quarter valued at about $2,089,000. Jupiter Topco LLC purchased a new position in shares of Vicor during the second quarter valued at about $3,934,000. The Manufacturers Life Insurance Company increased its position in shares of Vicor by 39.6% during the first 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 period. Finally, Renaissance Technologies LLC increased its position in shares of Vicor by 363.7% during the first quarter. Renaissance Technologies LLC now owns 47,300 shares of the electronics maker’s stock valued at $7,615,000 after buying an additional 37,100 shares during the period. 47.45% of the stock is 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.