Convergence Investment Partners LLC Takes Position in Vicor Corporation $VICR

Key Points

• Convergence Investment Partners opened a new position in Vicor Corporation in the fourth quarter, buying 14,880 shares worth about $1.63 million.
• Vicor’s latest quarterly results were strong, with EPS of $0.44 beating expectations and revenue of $112.97 million topping forecasts, while sales rose 20.2% year over year.
• Despite generally bullish analyst coverage and rising institutional interest, the stock has also seen notable insider selling, including large recent sales by Michael McNamara and Alvaro Doyle.

Convergence Investment Partners LLC acquired a new stake in shares of Vicor Corporation (NASDAQ:VICR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,880 shares of the electronics maker's stock, valued at approximately $1,631,000.

Several other institutional investors have also recently made changes to their positions in VICR. Royal Bank of Canada raised its holdings in shares of Vicor by 6.0% during the first quarter. Royal Bank of Canada now owns 15,167 shares of the electronics maker's stock valued at $709,000 after purchasing an additional 857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Vicor by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker's stock valued at $633,000 after purchasing an additional 563 shares during the period. Millennium Management LLC raised its holdings in shares of Vicor by 4,634.5% in the 1st quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock worth $12,379,000 after acquiring an additional 259,022 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Vicor by 38.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,541 shares of the electronics maker's stock worth $1,943,000 after acquiring an additional 11,525 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Vicor by 56.1% in the 1st quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker's stock worth $413,000 after acquiring an additional 3,184 shares during the last quarter. Institutional investors and hedge funds own 47.45% of the company's stock.

Key Headlines Impacting Vicor

Here are the key news stories impacting Vicor this week:

• Positive Sentiment: Vicor’s recent earnings report was strong, with EPS of $0.44 beating estimates and revenue of $112.97 million topping forecasts, while revenue grew 20.2% year over year. That kind of results-driven strength has helped support investor enthusiasm for the stock. Jim Cramer on Vicor: “If You Don’t Own It, Please Be Patient”
• Positive Sentiment: Analysts have remained generally constructive, with recent price-target increases and multiple Buy/Strong Buy ratings suggesting expectations for continued growth in Vicor’s power-systems business. Read Our Latest Analysis on VICR
• Neutral Sentiment: Vicor remains a popular stock with institutional investors, and hedge-fund ownership has been expanding, which can help reinforce confidence in the long-term story. Vicor company profile and institutional trading
• Negative Sentiment: Multiple recent insider sales by Director Andrew D’Amico, including several transactions over the past few days, may be weighing on shares because investors often view heavy insider selling as a caution signal. Andrew D’amico insider trades

Insider Transactions at Vicor

In other Vicor news, insider Michael Mcnamara sold 18,618 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $309.00, for a total value of $5,752,962.00. Following the completion of the sale, the insider owned 18,185 shares in the company, valued at approximately $5,619,165. This trade represents a 50.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Alvaro Doyle sold 4,041 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $286.91, for a total transaction of $1,159,403.31. Following the completion of the sale, the vice president owned 42 shares of the company's stock, valued at approximately $12,050.22. This trade represents a 98.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 748,666 shares of company stock worth $145,530,238. Company insiders own 31.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VICR. Needham & Company LLC upped their target price on shares of Vicor from $180.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Vicor from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Weiss Ratings restated a "hold (c)" rating on shares of Vicor in a report on Wednesday, January 21st. Roth Mkm restated a "buy" rating and issued a $245.00 target price on shares of Vicor in a report on Monday, April 20th. Finally, Zacks Research upgraded shares of Vicor from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Vicor has an average rating of "Buy" and an average price target of $198.33.

Vicor Stock Performance

NASDAQ:VICR opened at $273.67 on Friday. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 91.53 and a beta of 2.33. Vicor Corporation has a 52 week low of $40.54 and a 52 week high of $316.82. The firm has a 50-day moving average price of $209.50 and a two-hundred day moving average price of $155.56.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $112.97 million during the quarter, compared to analyst estimates of $109.05 million. Vicor had a net margin of 28.98% and a return on equity of 20.21%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, sell-side analysts forecast that Vicor Corporation will post 2.71 earnings per share for the current year.

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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