Arrowstreet Capital Limited Partnership Grows Stake in Vicor Corporation $VICR

Key Points

• Arrowstreet Capital increased its Vicor stake by 43.4% in the first quarter, adding 162,186 shares to own 536,274 shares valued at approximately $86.34 million. Institutional investors collectively own 47.45% of Vicor.
• Vicor reported strong quarterly results, with EPS of $1.04 versus the $0.65 consensus and revenue of $143.35 million, up 49.3% year over year.
• Analyst sentiment remains positive overall, with three Buy ratings and two Hold ratings and an average price target of $381.67, although the CEO and other insiders have sold significant shares in recent months.

Arrowstreet Capital Limited Partnership increased its position in Vicor Corporation (NASDAQ:VICR - Free Report) by 43.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 536,274 shares of the electronics maker's stock after acquiring an additional 162,186 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.18% of Vicor worth $86,340,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VICR. Federated Hermes Inc. bought a new stake in Vicor during the fourth quarter valued at approximately $27,000. Harbour Investments Inc. bought a new stake in shares of Vicor during the 4th quarter valued at $32,000. Allworth Financial LP increased its stake in shares of Vicor by 960.0% in the 4th quarter. Allworth Financial LP now owns 318 shares of the electronics maker's stock worth $35,000 after purchasing an additional 288 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Vicor in the 4th quarter worth $36,000. Finally, SBI Securities Co. Ltd. raised its holdings in Vicor by 32,400.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 325 shares of the electronics maker's stock worth $36,000 after purchasing an additional 324 shares during the period. Hedge funds and other institutional investors own 47.45% of the company's stock.

Insider Buying and Selling

In related news, CEO Patrizio Vinciarelli sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $342.10, for a total value of $6,842,000.00. Following the transaction, the chief executive officer directly owned 8,828,090 shares of the company's stock, valued at approximately $3,020,089,589. The trade was a 0.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 367,606 shares of company stock valued at $117,177,948. 28.30% of the stock is currently owned by insiders.

Vicor Stock Performance

VICR opened at $211.01 on Monday. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 67.63 and a beta of 2.33. The firm's fifty day moving average is $292.07 and its 200 day moving average is $224.81. Vicor Corporation has a fifty-two week low of $41.76 and a fifty-two week high of $382.65.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VICR shares. Weiss Ratings lowered Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. Roth Capital raised their price objective on Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Needham & Company LLC lowered their price objective on Vicor from $400.00 to $320.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. Craig Hallum boosted their price objective on Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Vicor from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Vicor has an average rating of "Moderate Buy" and an average target price of $381.67.

Vicor Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source