Ashford Capital Management Inc. Cuts Position in Vicor Corporation $VICR

Key Points

• Ashford Capital Management cut its Vicor position by 67.9% in the first quarter, selling 240,321 shares and retaining 113,535 shares worth approximately $18.3 million.
• Other institutional investors significantly increased their holdings, while hedge funds and other institutions collectively owned 47.45% of Vicor’s stock.
• Vicor exceeded quarterly earnings and revenue expectations, reporting $1.04 EPS and $143.35 million in revenue, up 49.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $381.67.

Ashford Capital Management Inc. cut its holdings in Vicor Corporation (NASDAQ:VICR - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,535 shares of the electronics maker's stock after selling 240,321 shares during the period. Vicor comprises approximately 2.3% of Ashford Capital Management Inc.'s portfolio, making the stock its 15th biggest holding. Ashford Capital Management Inc. owned about 0.25% of Vicor worth $18,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in Vicor by 3,918.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 432,189 shares of the electronics maker's stock worth $47,368,000 after purchasing an additional 421,435 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Vicor by 1,542.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 439,820 shares of the electronics maker's stock valued at $48,205,000 after purchasing an additional 413,038 shares during the last quarter. Millennium Management LLC increased its position in shares of Vicor by 4,634.5% during the 1st quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock valued at $12,379,000 after purchasing an additional 259,022 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Vicor by 1,921.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 267,882 shares of the electronics maker's stock worth $13,319,000 after purchasing an additional 254,630 shares during the period. Finally, Arosa Capital Management LP bought a new stake in shares of Vicor during the 4th quarter worth $14,796,000. 47.45% of the stock is owned by hedge funds and other institutional investors.

Vicor Price Performance

Shares of NASDAQ VICR opened at $206.44 on Tuesday. Vicor Corporation has a one year low of $41.76 and a one year high of $382.65. The business's fifty day moving average price is $291.22 and its 200-day moving average price is $225.29. The stock has a market capitalization of $9.41 billion, a PE ratio of 66.17 and a beta of 2.33.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share 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 the consensus estimate of $138.37 million. During the same quarter in the prior year, the company earned $0.91 EPS. The firm's quarterly revenue was up 49.3% compared to the same quarter last year. As a group, equities analysts expect that Vicor Corporation will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Vicor

In other news, CFO James F. Schmidt sold 1,000 shares of Vicor stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $331.68, for a total value of $331,680.00. Following the completion of the transaction, the chief financial officer owned 1,000 shares in the company, valued at $331,680. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrizio Vinciarelli sold 700 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $302.40, for a total transaction of $211,680.00. Following the completion of the sale, the chief executive officer directly owned 8,347,390 shares in the company, valued at approximately $2,524,250,736. This trade represents a 0.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 367,606 shares of company stock valued at $117,177,948 in the last three months. 28.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VICR. Wall Street Zen lowered shares of Vicor from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Roth Capital lifted their price objective on shares of Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Zacks Research cut shares of Vicor from a "strong-buy" rating to a "hold" rating in a research note 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. Finally, Craig Hallum raised their price target on shares of Vicor to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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.