Peregrine Capital Management LLC Cuts Position in Vicor Co. (NASDAQ:VICR)

Peregrine Capital Management LLC cut its stake in Vicor Co. (NASDAQ:VICR – Get Rating) by 2.9% in the 4th quarter, Holdings Channel reports. The fund owned 136,991 shares of the electronics maker’s stock after selling 4,153 shares during the quarter. Peregrine Capital Management LLC’s holdings in Vicor were worth $7,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Vicor in the second quarter worth $48,000. Royal Bank of Canada grew its position in Vicor by 51.8% in the third quarter. Royal Bank of Canada now owns 894 shares of the electronics maker’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Federated Hermes Inc. grew its position in Vicor by 51.9% in the third quarter. Federated Hermes Inc. now owns 992 shares of the electronics maker’s stock worth $59,000 after acquiring an additional 339 shares in the last quarter. Captrust Financial Advisors boosted its position in Vicor by 109.3% during the first quarter. Captrust Financial Advisors now owns 898 shares of the electronics maker’s stock valued at $63,000 after buying an additional 469 shares during the period. Finally, Covestor Ltd boosted its position in Vicor by 132.4% during the first quarter. Covestor Ltd now owns 960 shares of the electronics maker’s stock valued at $68,000 after buying an additional 547 shares during the period. 41.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Andrew D’amico sold 1,000 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sean Crilly sold 23,170 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $43.07, for a total value of $997,931.90. Following the completion of the transaction, the vice president now directly owns 23,416 shares of the company’s stock, valued at $1,008,527.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew D’amico sold 1,000 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,170 shares of company stock valued at $1,127,932. Insiders own 31.30% of the company’s stock.

Analyst Ratings Changes

VICR has been the subject of several analyst reports. Craig Hallum lowered shares of Vicor from a “buy” rating to a “hold” rating and cut their price target for the company from $70.00 to $45.00 in a research report on Friday, February 24th. StockNews.com initiated coverage on shares of Vicor in a research report on Thursday. They set a “hold” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Vicor in a research report on Friday, February 24th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Vicor presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.67.

Vicor Trading Down 2.7 %

Shares of NASDAQ:VICR opened at $41.56 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 58.54 and a beta of 1.34. The company has a 50-day moving average price of $57.96 and a 200-day moving average price of $56.27. Vicor Co. has a 12 month low of $38.71 and a 12 month high of $82.39.

Vicor (NASDAQ:VICR – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The electronics maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.07). The firm had revenue of $105.49 million for the quarter, compared to the consensus estimate of $103.23 million. Vicor had a net margin of 7.95% and a return on equity of 7.08%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the company posted $0.20 earnings per share.

Vicor Company Profile

(Get Rating)

Vicor Corp. engages in the design, development, manufacture, and marketing of modular power components. The firm provides complete power systems based upon a portfolio of patented technologies. Its products include AC-DC converters, power systems, and accessories. The company was founded by Patrizio Vinciarelli in 1981 and is headquartered in Andover, MA.