Vicor (NASDAQ:VICR) Stock Rating Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Vicor to “Hold” from “Buy,” though the broader analyst consensus remains “Buy” with an average price target of $386.67.
• Vicor reported quarterly revenue of $197.11 million and earnings of $1.33 per share, exceeding estimates, while revenue surged 78.5% year over year.
• Insiders sold 27,053 shares worth approximately $7.75 million during the last quarter, while institutional investors own 47.45% of Vicor’s stock.

Vicor (NASDAQ:VICR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Roth Capital set a $360.00 price objective on shares of Vicor in a research report on Wednesday. Weiss Ratings cut shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, September 18th. Zacks Research upgraded Vicor from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $350.00 target price on shares of Vicor in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Vicor presently has a consensus rating of "Buy" and a consensus price target of $386.67.

Vicor Price Performance

Vicor stock opened at $176.04 on Friday. Vicor has a 12 month low of $80.29 and a 12 month high of $382.65. The company has a fifty day moving average price of $226.40 and a two-hundred day moving average price of $250.62. The company has a market cap of $8.12 billion, a PE ratio of 47.12 and a beta of 2.37.

Vicor (NASDAQ:VICR - Get Free Report) last issued its earnings results on Tuesday, October 20th. The electronics maker reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.01. Vicor had a net margin of 32.15% and a return on equity of 22.49%. The company had revenue of $197.11 million for the quarter, compared to analysts' expectations of $187.03 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm's revenue was up 78.5% compared to the same quarter last year. Equities research analysts anticipate that Vicor will post 3.94 earnings per share for the current year.

Insider Activity

In other news, CEO Patrizio Vinciarelli sold 20,000 shares of the company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $316.13, for a total transaction of $6,322,600.00. Following the completion of the transaction, the chief executive officer owned 8,307,390 shares in the company, valued at approximately $2,626,215,200.70. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Philip Davies sold 3,073 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $177.70, for a total transaction of $546,072.10. Following the completion of the sale, the vice president directly owned 1,920 shares in the company, valued at approximately $341,184. This trade represents a 61.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 27,053 shares of company stock valued at $7,745,984. 28.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vicor

Several large investors have recently made changes to their positions in the company. Andar Capital Management HK Ltd bought a new stake in shares of Vicor during the second quarter valued at about $101,100,000. BlackRock Inc. bought a new position in Vicor in the 2nd quarter valued at about $934,612,000. The Manufacturers Life Insurance Company grew its position in Vicor by 39.6% in the 1st 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Vicor by 43.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 536,274 shares of the electronics maker's stock valued at $86,340,000 after buying an additional 162,186 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Vicor during the 2nd quarter valued at about $53,161,000. 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 components and systems. The company's products convert, regulate and distribute electrical power for electronic equipment, with an emphasis on high-performance, compact and efficient power solutions.

Its portfolio includes AC-to-DC and DC-to-DC converters, regulators, power modules, power distribution components and complete power systems. Vicor's technologies include its Factorized Power Architecture and high-density ChiP packaging, which are designed to help engineers manage power more efficiently while reducing the size and complexity of electronic systems.

Vicor serves customers in industries such as data centers and computing, telecommunications, automotive, aerospace and defense, industrial equipment, and consumer electronics.

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