Cibc World Market Inc. Trims Position in Vicor Corporation $VICR

Key Points

• CIBC World Market cut its Vicor position by 38.5% in the second quarter, selling 28,113 shares and retaining 44,987 shares valued at approximately $17.1 million. Institutional investors collectively own 47.45% of VICR.
• Vicor insiders sold 306,088 shares worth about $99 million over the last quarter, while insider ownership stands at 28.30%. Two directors also reduced their holdings through stock sales.
• Analyst sentiment remains positive overall, with three Buy ratings and two Holds and a consensus price target of $381.67. Vicor recently beat quarterly earnings estimates, reporting $1.04 EPS and $143.35 million in revenue, up 49.3% year over year.

Cibc World Market Inc. decreased its position in Vicor Corporation (NASDAQ:VICR - Free Report) by 38.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,987 shares of the electronics maker's stock after selling 28,113 shares during the quarter. Cibc World Market Inc. owned approximately 0.10% of Vicor worth $17,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Vicor in the second quarter worth approximately $934,612,000. Convergence Investment Partners LLC purchased a new stake in Vicor during the fourth quarter valued at approximately $1,631,000. The Manufacturers Life Insurance Company raised its position in Vicor by 39.6% in the first quarter. The Manufacturers Life Insurance Company now owns 603,364 shares of the electronics maker's stock worth $97,142,000 after acquiring an additional 171,175 shares during the period. Renaissance Technologies LLC raised its position in Vicor by 363.7% in the first quarter. Renaissance Technologies LLC now owns 47,300 shares of the electronics maker's stock worth $7,615,000 after acquiring an additional 37,100 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Vicor during the 1st quarter worth $761,000. 47.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Zmira Lavie sold 908 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $250.00, for a total transaction of $227,000.00. Following the transaction, the director owned 908 shares of the company's stock, valued at approximately $227,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew D'amico sold 331 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $319.53, for a total value of $105,764.43. Following the sale, the director owned 200 shares in the company, valued at $63,906. The trade was a 62.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 306,088 shares of company stock valued at $99,007,022 over the last quarter. Company insiders own 28.30% of the company's stock.

Analysts Set New Price Targets

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

Vicor Stock Performance

NASDAQ VICR opened at $189.99 on Tuesday. Vicor Corporation has a one year low of $47.56 and a one year high of $382.65. The company has a market capitalization of $8.76 billion, a P/E ratio of 60.89 and a beta of 2.37. The stock has a 50 day moving average price of $257.44 and a 200-day moving average price of $233.95.

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