Nuveen LLC Takes Position in Vicor Corporation $VICR

Key Points

• Nuveen LLC acquired 171,530 shares of Vicor Corporation, worth approximately $8,024,000, reflecting a 0.38% ownership stake in the company.
• Vicor's stock price increased by 9.1%, with shares opening at $50.95 and a market capitalization of $2.29 billion.
• The company reported $141.05 million in quarterly revenue, surpassing expectations and showing a 64.3% year-over-year growth.

Nuveen LLC purchased a new stake in shares of Vicor Corporation (NASDAQ:VICR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 171,530 shares of the electronics maker's stock, valued at approximately $8,024,000. Nuveen LLC owned about 0.38% of Vicor as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Vicor during the 1st quarter valued at about $247,000. Invesco Ltd. boosted its holdings in shares of Vicor by 7.7% during the 1st quarter. Invesco Ltd. now owns 64,649 shares of the electronics maker's stock valued at $3,024,000 after acquiring an additional 4,621 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Vicor by 15.6% in the 1st quarter. JPMorgan Chase & Co. now owns 4,446,226 shares of the electronics maker's stock worth $207,994,000 after purchasing an additional 598,896 shares during the period. Herald Investment Management Ltd lifted its stake in shares of Vicor by 15.0% in the 1st quarter. Herald Investment Management Ltd now owns 230,000 shares of the electronics maker's stock worth $10,750,000 after purchasing an additional 30,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Vicor by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 213,133 shares of the electronics maker's stock worth $9,970,000 after purchasing an additional 761 shares during the period. Hedge funds and other institutional investors own 47.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VICR shares. Needham & Company LLC reiterated a "hold" rating on shares of Vicor in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Vicor from a "buy" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Vicor has a consensus rating of "Buy" and a consensus target price of $43.00.

Vicor Stock Down 0.4%

NASDAQ:VICR traded down $0.19 during trading hours on Wednesday, hitting $51.32. 261,616 shares of the stock traded hands, compared to its average volume of 297,920. Vicor Corporation has a 1 year low of $34.27 and a 1 year high of $65.70. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 35.15 and a beta of 1.73. The stock has a 50 day moving average price of $46.77 and a 200 day moving average price of $47.83.

Vicor (NASDAQ:VICR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The electronics maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.73. Vicor had a net margin of 15.44% and a return on equity of 11.32%. The business had revenue of $141.05 million for the quarter, compared to the consensus estimate of $96.43 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company's revenue for the quarter was up 64.3% on a year-over-year basis.

Insider Activity

In other news, Director Andrew D'amico sold 5,813 shares of Vicor stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $63.00, for a total transaction of $366,219.00. Following the sale, the director owned 1,217 shares in the company, valued at $76,671. This trade represents a 82.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 31.30% of the stock is currently owned by insiders.

About Vicor

Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as electrical and mechanical accessories.