BlackRock Inc. Makes New Investment in Vicor Corporation $VICR

Key Points

• BlackRock acquired 2.46 million Vicor shares worth approximately $934.6 million, giving it a 5.40% stake. Institutional investors collectively own 47.45% of the company.
• Vicor reported quarterly EPS of $1.04, beating estimates of $0.65, while revenue rose 49.3% year over year to $143.35 million. Despite the strong results, the stock opened down 3.4% at $200.54.
• CEO Patrizio Vinciarelli sold 20,000 shares for $5.59 million under a pre-arranged trading plan, while insiders sold $101.5 million in shares during the last quarter. Analyst sentiment remains a “Moderate Buy,” with an average price target of $381.67.

BlackRock Inc. acquired a new stake in Vicor Corporation (NASDAQ:VICR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,460,929 shares of the electronics maker's stock, valued at approximately $934,612,000. BlackRock Inc. owned 5.40% of Vicor as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Convergence Investment Partners LLC purchased a new position in Vicor in the fourth quarter valued at approximately $1,631,000. The Manufacturers Life Insurance Company increased its position in Vicor by 39.6% in 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. Renaissance Technologies LLC boosted its holdings in shares of Vicor by 363.7% in the first 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 in the last quarter. Janney Montgomery Scott LLC purchased a new position in Vicor in the first quarter worth $761,000. Finally, GatePass Capital LLC lifted its position in shares of Vicor by 230.0% during the 4th quarter. GatePass Capital LLC now owns 33,000 shares of the electronics maker's stock valued at $3,617,000 after acquiring an additional 23,000 shares during the period. 47.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Patrizio Vinciarelli sold 20,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $279.50, for a total transaction of $5,590,000.00. Following the sale, the chief executive officer owned 8,628,090 shares in the company, valued at approximately $2,411,551,155. This represents a 0.23% decrease in their ownership of the stock. The sale 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. Insiders sold a total of 313,659 shares of company stock valued at $101,500,682 over the last quarter. 28.30% of the stock is currently owned by insiders.

Vicor Trading Down 3.4%

Shares of NASDAQ VICR opened at $200.54 on Friday. Vicor Corporation has a one year low of $46.96 and a one year high of $382.65. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 64.28 and a beta of 2.37. The business has a fifty day simple moving average of $260.09 and a 200 day simple moving average of $233.31.

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

Analyst Ratings Changes

VICR has been the subject of several recent research reports. Zacks Research downgraded Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Needham & Company LLC decreased their price objective on shares of Vicor from $400.00 to $320.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Craig Hallum lifted their target price on Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Wall Street Zen cut shares of Vicor from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Weiss Ratings downgraded shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.

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