Bank of America Corp DE Grows Position in Vicor Corporation $VICR

Bank of America Corp DE lifted its stake in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 44.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,107 shares of the electronics maker's stock after buying an additional 31,399 shares during the period. Bank of America Corp DE owned approximately 0.22% of Vicor worth $16,439,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VICR. Convergence Investment Partners LLC acquired a new position in Vicor in the 4th quarter worth approximately $1,631,000. The Manufacturers Life Insurance Company lifted 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 acquiring an additional 171,175 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Vicor in the 1st quarter valued at $761,000. Renaissance Technologies LLC boosted its holdings in shares of Vicor by 363.7% in the 1st quarter. Renaissance Technologies LLC now owns 47,300 shares of the electronics maker's stock valued at $7,615,000 after acquiring an additional 37,100 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Vicor by 128.6% in the fourth quarter. Strs Ohio now owns 9,600 shares of the electronics maker's stock worth $1,052,000 after acquiring an additional 5,400 shares during the period. 47.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC lowered 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 lifted their price objective on Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Weiss Ratings raised Vicor from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Zacks Research cut Vicor from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 2nd. Finally, Wall Street Zen downgraded Vicor from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Three equities research 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, Vicor currently has an average rating of "Moderate Buy" and an average target price of $381.67.

Insider Transactions at Vicor

In related news, CEO Patrizio Vinciarelli sold 20,000 shares of Vicor stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $279.50, for a total value of $5,590,000.00. Following the sale, the chief executive officer directly owned 8,628,090 shares in the company, valued at approximately $2,411,551,155. The trade was a 0.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 313,659 shares of company stock worth $101,500,682 over the last quarter. Company insiders own 28.30% of the company's stock.

Vicor Stock Down 4.5%

VICR stock opened at $207.64 on Friday. Vicor Corporation has a 52-week low of $45.79 and a 52-week high of $382.65. The firm has a market cap of $9.57 billion, a P/E ratio of 66.55 and a beta of 2.37. The company's 50-day simple moving average is $262.16 and its 200-day simple moving average is $233.54.

Vicor (NASDAQ:VICR - Get Free Report) last announced its 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. The business had revenue of $143.35 million during the quarter, compared to the consensus estimate of $138.37 million. Vicor had a return on equity of 19.83% and a net margin of 30.65%.The business's quarterly revenue was up 49.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. On average, analysts anticipate that Vicor Corporation will post 3.12 earnings per share for the current fiscal year.

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.

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