Algert Global LLC Boosts Holdings in Vicor Corporation $VICR

Key Points

• Algert Global doubled its Vicor stake in the second quarter, purchasing 22,559 additional shares to own 44,930 shares valued at about $17.1 million. Institutional investors collectively hold 47.45% of the company.
• Vicor reported stronger-than-expected quarterly results, with earnings of $1.04 per share and revenue of $143.35 million, up 49.3% year over year. Despite the results, shares opened at $189.99, down 5.3%, and remain well below their 52-week high of $382.65.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $381.67 price target, although some firms recently downgraded the stock or lowered their targets. Company insiders sold more than 306,000 shares valued at approximately $99 million during the last quarter.

Algert Global LLC lifted its position in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 100.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,930 shares of the electronics maker's stock after purchasing an additional 22,559 shares during the period. Algert Global LLC owned about 0.10% of Vicor worth $17,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Vicor during the second quarter worth about $934,612,000. Convergence Investment Partners LLC purchased a new position in Vicor in the fourth quarter valued at about $1,631,000. The Manufacturers Life Insurance Company grew its stake in Vicor by 39.6% during 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 purchasing an additional 171,175 shares in the last quarter. Renaissance Technologies LLC grew its stake in Vicor by 363.7% during the 1st quarter. Renaissance Technologies LLC now owns 47,300 shares of the electronics maker's stock valued at $7,615,000 after purchasing an additional 37,100 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Vicor during the 1st quarter valued at approximately $761,000. 47.45% of the stock is currently owned by hedge funds and other institutional investors.

Vicor Stock Down 5.3%

Shares of NASDAQ VICR opened at $189.99 on Tuesday. The stock's 50 day moving average price is $257.44 and its two-hundred day moving average price is $233.95. Vicor Corporation has a 52-week low of $47.56 and a 52-week high of $382.65. The stock has a market capitalization of $8.76 billion, a P/E ratio of 60.89 and a beta of 2.37.

Vicor (NASDAQ:VICR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 EPS for the quarter, topping the consensus estimate of $0.65 by $0.39. Vicor had a return on equity of 19.83% and a net margin of 30.65%.The company had revenue of $143.35 million during the quarter, compared to analyst estimates of $138.37 million. During the same quarter last year, the firm earned $0.91 EPS. The business's revenue was up 49.3% on a year-over-year basis. On average, analysts anticipate that Vicor Corporation will post 3.12 EPS for the current year.

Insider Transactions at Vicor

In related news, VP Philip D. Davies sold 3,072 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $211.69, for a total transaction of $650,311.68. Following the transaction, the vice president directly owned 1,920 shares in the company, valued at $406,444.80. This trade represents a 61.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew D'amico sold 331 shares of Vicor stock in a transaction on Friday, June 26th. The stock was sold at an average price of $319.53, for a total transaction of $105,764.43. Following the completion of the transaction, the director directly owned 200 shares of the company's stock, valued at approximately $63,906. This represents a 62.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 306,088 shares of company stock valued at $99,007,022. 28.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research lowered Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Weiss Ratings downgraded shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Needham & Company LLC cut their price target on shares of Vicor from $400.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Craig Hallum increased their price objective on shares of Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Roth Capital increased their price objective on shares of Vicor from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $381.67.

Vicor 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.

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