Vicor (NASDAQ:VICR) Given New $350.00 Price Target at Needham & Company LLC

Key Points

• Needham raised Vicor’s price target to $350 from $320 and maintained a “buy” rating, implying 21.13% potential upside from the stock’s current price.
• Analyst sentiment is broadly positive, with Vicor receiving a consensus “Moderate Buy” rating and an average price target of $391.67, despite one recent downgrade to “hold.”
• Vicor’s latest quarterly results exceeded expectations: earnings per share came in at $1.04 versus $0.65 expected, while revenue rose 49.3% year over year to $143.35 million.

Vicor (NASDAQ:VICR - Get Free Report) had its price objective upped by research analysts at Needham & Company LLC from $320.00 to $350.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the electronics maker's stock. Needham & Company LLC's target price suggests a potential upside of 21.13% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Roth Capital restated a "buy" rating and issued a $375.00 target price on shares of Vicor in a research note on Tuesday, September 22nd. Weiss Ratings lowered Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, September 18th. Finally, Craig Hallum increased their price target on Vicor to $450.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $391.67.

Vicor Price Performance

Shares of VICR opened at $288.94 on Thursday. The business's fifty day moving average price is $215.66 and its 200 day moving average price is $242.12. Vicor has a 12-month low of $48.53 and a 12-month high of $382.65. The stock has a market capitalization of $13.32 billion, a PE ratio of 92.61 and a beta of 2.35.

Vicor (NASDAQ:VICR - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The electronics maker reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.39. The firm had revenue of $143.35 million during the quarter, compared to the consensus estimate of $138.37 million. Vicor had a net margin of 30.65% and a return on equity of 19.83%. The firm's revenue was up 49.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. As a group, research analysts anticipate that Vicor will post 3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vicor news, VP Philip Davies sold 3,073 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $177.70, for a total value of $546,072.10. Following the completion of the transaction, the vice president owned 1,920 shares in the company, valued at approximately $341,184. This represents a 61.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Zmira Lavie sold 908 shares of Vicor stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $250.00, for a total value of $227,000.00. Following the sale, the director directly owned 908 shares in the company, valued at approximately $227,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 7,753 shares of company stock worth $1,635,064. Insiders own 28.30% of the company's stock.

Hedge Funds Weigh In On Vicor

Large investors have recently bought and sold shares of the stock. Carolina Wealth Advisors LLC increased its stake in shares of Vicor by 70.9% during the second quarter. Carolina Wealth Advisors LLC now owns 147 shares of the electronics maker's stock valued at $56,000 after acquiring an additional 61 shares during the period. Elevation Wealth Partners LLC acquired a new position in shares of Vicor during the 2nd quarter valued at $76,000. Blue Trust Inc. increased its position in shares of Vicor by 1,814.3% during 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 period. ROSS JOHNSON & Associates LLC raised its stake in shares of Vicor by 13,750.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 277 shares of the electronics maker's stock worth $45,000 after buying an additional 275 shares in the last quarter. Finally, Harbour Investments Inc. bought a new stake in shares of Vicor in the 4th quarter worth $32,000. Institutional investors and hedge funds own 47.45% of the company's stock.

About Vicor

Vicor Corporation NASDAQ: VICR designs, develops, manufactures and markets modular power-conversion products and systems. Its technologies are used to convert, regulate and distribute electrical power in electronic equipment, with an emphasis on compact, efficient and scalable power-delivery architectures.

The company's product portfolio includes AC-to-DC and DC-to-DC converters, power modules, power systems and related components. Vicor's Factorized Power Architecture and associated products are designed to support power delivery from the source to processors, memory, communications equipment and other demanding loads.

Founded in 1981 and headquartered in Andover, Massachusetts, Vicor serves customers and markets worldwide.

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