Engineers Gate Manager LP Lowers Stake in Vicor Corporation $VICR

Key Points

• Engineers Gate Manager LP cut its Vicor stake by 96.1% in the second quarter, selling 24,669 shares and retaining 994 shares worth approximately $378,000. Institutional investors collectively own 47.45% of Vicor.
• Vicor reported stronger-than-expected quarterly results, with EPS of $1.04 versus the $0.65 consensus estimate and revenue of $143.35 million, up 49.3% year over year.
• Analyst sentiment remains moderately bullish, with three Buy ratings, two Hold ratings, and a consensus price target of $381.67. However, company insiders sold 70,826 shares worth $23.7 million over the past 90 days.

Engineers Gate Manager LP cut its stake in Vicor Corporation (NASDAQ:VICR - Free Report) by 96.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 994 shares of the electronics maker's stock after selling 24,669 shares during the period. Engineers Gate Manager LP's holdings in Vicor were worth $378,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of VICR. Integrated Wealth Concepts LLC bought a new position in shares of Vicor in the second quarter worth $757,000. Baird Financial Group Inc. bought a new position in Vicor in the 2nd quarter valued at about $863,000. Allworth Financial LP increased its holdings in Vicor by 55.5% in the 2nd quarter. Allworth Financial LP now owns 939 shares of the electronics maker's stock valued at $357,000 after buying an additional 335 shares during the period. Arizona State Retirement System raised its stake in Vicor by 2.7% during the second quarter. Arizona State Retirement System now owns 6,499 shares of the electronics maker's stock worth $2,468,000 after acquiring an additional 169 shares in the last quarter. Finally, Waverly Advisors LLC bought a new position in shares of Vicor in the second quarter worth about $235,000. 47.45% of the stock is currently owned by institutional investors.

Vicor Stock Down 2.5%

NASDAQ VICR opened at $276.06 on Friday. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 88.48 and a beta of 2.35. Vicor Corporation has a twelve month low of $47.56 and a twelve month high of $382.65. The stock has a fifty day simple moving average of $210.73 and a 200 day simple moving average of $238.93.

Vicor (NASDAQ:VICR - Get Free Report) last announced its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 EPS 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 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 business earned $0.91 EPS. The business's quarterly revenue was up 49.3% compared to the same quarter last year. Research analysts expect that Vicor Corporation will post 3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Patrizio Vinciarelli sold 20,000 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $318.88, for a total transaction of $6,377,600.00. Following the completion of the sale, the chief executive officer directly owned 8,348,090 shares in the company, valued at $2,662,038,939.20. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Philip D. Davies sold 3,073 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $356.97, for a total transaction of $1,096,968.81. Following the sale, the vice president owned 1,920 shares of the company's stock, valued at approximately $685,382.40. This trade represents a 61.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 70,826 shares of company stock worth $23,703,427. 28.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on VICR. Roth Capital reaffirmed a "buy" rating and set a $375.00 price target on shares of Vicor in a report on Tuesday. Zacks Research lowered shares of Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Weiss Ratings downgraded shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, September 18th. Craig Hallum increased their price target on Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $320.00 price objective on shares of Vicor in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Vicor has an average rating of "Moderate Buy" and a consensus price target of $381.67.

Vicor Company Profile

Vicor Corporation NASDAQ: VICR designs, manufactures and markets modular power components and power systems. The company's products are used to convert, regulate and distribute electrical power in electronic systems, with an emphasis on high-density, efficient and scalable power-conversion technology.

Its portfolio includes AC-to-DC and DC-to-DC power modules, bus converters, point-of-load regulators, power accessories and complete power systems. Vicor's Factorized Power Architecture separates power conversion, transformation and regulation functions to help customers address power-density, thermal-management and system-design requirements.

Vicor serves customers in markets including data centers and communications infrastructure, automotive and transportation, aerospace and defense, industrial equipment, and other high-performance electronics applications.

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