Vicor (NASDAQ:VICR) Trading 8.4% Higher – Here’s What Happened

Vicor Corporation (NASDAQ:VICR) shares shot up 8.4% during mid-day trading on Thursday . The stock traded as high as $287.75 and last traded at $285.3580. 82,063 shares traded hands during trading, a decline of 90% from the average daily volume of 840,829 shares. The stock had previously closed at $263.16.

Wall Street Analysts Forecast Growth

Several research firms have commented on VICR. Zacks Research cut shares of Vicor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Vicor in a report on Monday, June 1st. Craig Hallum lifted their price objective on Vicor to $450.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen lowered Vicor from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Roth Capital increased their target price on Vicor from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $408.33.

Vicor Stock Down 1.9%

The company has a market cap of $12.40 billion, a PE ratio of 90.99 and a beta of 2.33. The stock’s 50 day simple moving average is $301.31 and its two-hundred day simple moving average is $215.49.

Vicor (NASDAQ:VICR) last announced its quarterly earnings data on Tuesday, April 21st. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $112.97 million during the quarter, compared to analysts’ expectations of $109.05 million. Vicor had a net margin of 28.98% and a return on equity of 20.21%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. Analysts forecast that Vicor Corporation will post 2.94 EPS for the current year.

Insider Activity at Vicor

In other Vicor news, CEO Patrizio Vinciarelli sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $193.21, for a total value of $9,660,500.00. Following the transaction, the chief executive officer directly owned 8,895,090 shares of the company’s stock, valued at $1,718,620,338.90. This represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 502,460 shares of company stock valued at $145,214,062 in the last 90 days. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Range Financial Group LLC acquired a new position in Vicor in the fourth quarter worth about $1,537,000. Convergence Investment Partners LLC bought a new position in Vicor during the 4th quarter worth approximately $1,631,000. Chicago Capital LLC acquired a new position in shares of Vicor in the 4th quarter worth approximately $771,000. Andar Capital Management HK Ltd bought a new stake in shares of Vicor in the 4th quarter valued at approximately $3,507,000. Finally, Washburn Capital Management Inc. bought a new stake in shares of Vicor in the 4th quarter valued at approximately $812,000. 47.45% of the stock is currently owned by institutional investors.

Vicor Company Profile

Vicor Corporation is a designer and manufacturer of modular power components and systems, serving a wide range of industries that demand high performance and efficiency. Headquartered in Andover, Massachusetts, the company develops power conversion solutions that help customers optimize energy delivery in applications from telecommunications and data centers to industrial and automotive systems.

The company’s product portfolio includes high-density DC-DC converters, AC-DC front-end modules, point-of-load regulators and complete power systems that combine multiple conversion stages in a single package.