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

Vicor (NASDAQ:VICR)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Marketbeat reports. They currently have a $320.00 price target on the electronics maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 13.05% from the company’s previous close.

Several other 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. Craig Hallum lifted their price objective on Vicor to $450.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Roth Capital lifted their price objective on Vicor from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Weiss Ratings lowered Vicor from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.67.

Vicor Trading Up 2.5%

VICR traded up $7.01 during midday trading on Tuesday, reaching $283.07. The company’s stock had a trading volume of 108,132 shares, compared to its average volume of 849,837. The stock has a market cap of $13.05 billion, a P/E ratio of 90.44 and a beta of 2.35. The company has a fifty day simple moving average of $210.73 and a 200 day simple moving average of $238.93. Vicor has a twelve month low of $47.56 and a twelve month high of $382.65.

Vicor (NASDAQ:VICR) last released its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. Vicor had a return on equity of 19.83% and a net margin of 30.65%.The firm had revenue of $143.35 million for the quarter, compared to analyst estimates of $138.37 million. During the same quarter last year, the firm posted $0.91 EPS. The company’s revenue was up 49.3% on a year-over-year basis. Sell-side analysts expect that Vicor will post 3.64 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Philip Davies sold 3,073 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president owned 1,920 shares in the company, valued at $685,382.40. This trade represents a 61.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrizio Vinciarelli sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was 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 of the company’s stock, valued at $2,662,038,939.20. This trade represents a 0.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 70,826 shares of company stock worth $23,703,427 in the last 90 days. 28.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vicor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Carolina Wealth Advisors LLC lifted its position in shares of Vicor by 70.9% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 147 shares of the electronics maker’s stock worth $56,000 after buying an additional 61 shares during the period. Elevation Wealth Partners LLC bought a new position in Vicor in the 2nd quarter valued at $76,000. Blue Trust Inc. raised its position in Vicor by 1,814.3% in the 1st quarter. Blue Trust Inc. now owns 268 shares of the electronics maker’s stock valued at $43,000 after purchasing an additional 254 shares during the last quarter. ROSS JOHNSON & Associates LLC raised its position in Vicor by 13,750.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 277 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 275 shares during the last quarter. Finally, Harbour Investments Inc. bought a new position in Vicor in the 4th quarter valued at $32,000. Institutional investors own 47.45% of the company’s stock.

About Vicor

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.