Envestnet Asset Management Inc. Acquires 4,360 Shares of Vicor Corporation $VICR

Key Points

• Envestnet Asset Management increased its Vicor stake by 133% in the second quarter, acquiring 4,360 shares for a total holding of 7,639 shares valued at approximately $2.9 million. Institutional investors collectively own 47.45% of Vicor.
• Analysts maintain a positive outlook, with Vicor receiving a consensus “Buy” rating and an average price target of $391.67. Recent target increases ranged from $350 to $450.
• Vicor reported stronger-than-expected quarterly results, with EPS of $1.04 versus the $0.65 consensus estimate and revenue up 49.3% year over year to $143.35 million. Meanwhile, insiders sold 27,053 shares worth approximately $7.75 million during the quarter.

Envestnet Asset Management Inc. boosted its stake in Vicor Corporation (NASDAQ:VICR - Free Report) by 133.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,639 shares of the electronics maker's stock after buying an additional 4,360 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Vicor were worth $2,901,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Andar Capital Management HK Ltd acquired a new stake in shares of Vicor during the 2nd quarter valued at about $101,100,000. BlackRock Inc. acquired a new position in Vicor in the second quarter worth approximately $934,612,000. The Manufacturers Life Insurance Company increased its holdings 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 buying an additional 171,175 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Vicor by 43.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 536,274 shares of the electronics maker's stock valued at $86,340,000 after acquiring an additional 162,186 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Vicor during the second quarter valued at approximately $53,161,000. Institutional investors and hedge funds own 47.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VICR shares. Craig Hallum increased their price target on shares of Vicor to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Weiss Ratings cut shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, September 18th. Needham & Company LLC increased their target price on shares of Vicor from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Roth Capital reissued a "buy" rating and set a $375.00 target price on shares of Vicor in a research report on Tuesday, September 22nd. Finally, Zacks Research upgraded Vicor from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. One research 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 company. Based on data from MarketBeat, Vicor currently has a consensus rating of "Buy" and an average price target of $391.67.

Insider Buying and Selling

In other Vicor news, Director Zmira Lavie sold 908 shares of the company'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 value of $227,000.00. Following the completion of the transaction, the director owned 908 shares of the company's stock, valued at $227,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrizio Vinciarelli sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $316.13, for a total value of $6,322,600.00. Following the completion of the sale, the chief executive officer owned 8,307,390 shares of the company's stock, valued at $2,626,215,200.70. This represents a 0.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 27,053 shares of company stock valued at $7,745,984. 28.30% of the stock is owned by company insiders.

Vicor Trading Down 1.1%

NASDAQ VICR opened at $305.61 on Tuesday. The company has a fifty day simple moving average of $221.14 and a 200 day simple moving average of $244.72. The company has a market cap of $14.09 billion, a P/E ratio of 97.95 and a beta of 2.37. Vicor Corporation has a 1 year low of $48.53 and a 1 year high of $382.65.

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. The firm had revenue of $143.35 million for the quarter, compared to the consensus estimate of $138.37 million. Vicor had a net margin of 30.65% and a return on equity of 19.83%. The business's quarterly revenue was up 49.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. Equities research analysts forecast that Vicor Corporation will post 4.07 EPS for the current fiscal year.

About Vicor

Vicor Corporation NASDAQ: VICR designs, develops, manufactures and markets modular power-conversion products and systems. Its technologies are used to convert, regulate and distribute electrical power in electronic equipment, with an emphasis on compact, efficient and scalable power-delivery architectures.

The company's product portfolio includes AC-to-DC and DC-to-DC converters, power modules, power systems and related components. Vicor's Factorized Power Architecture and associated products are designed to support power delivery from the source to processors, memory, communications equipment and other demanding loads.

Founded in 1981 and headquartered in Andover, Massachusetts, Vicor serves customers and markets worldwide.

Want to see what other hedge funds are holding VICR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vicor Corporation (NASDAQ:VICR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.