Fifth Third Bancorp Buys 4,905 Shares of Vicor Corporation $VICR

Key Points

• Fifth Third Bancorp significantly increased its Vicor stake by purchasing 4,905 additional shares, bringing its holdings to 5,088 shares valued at approximately $819,000. Institutional investors collectively own 47.45% of Vicor.
• Analysts maintain a generally positive view, with three Buy ratings and two Hold ratings. Vicor has a consensus rating of “Moderate Buy” and an average price target of $381.67, despite recent target-price reductions from some firms.
• Vicor reported stronger-than-expected quarterly results, with EPS of $1.04 versus the $0.65 consensus and revenue of $143.35 million, up 49.3% year over year. The stock opened at $206.44, while insiders have sold approximately $117.2 million worth of shares over the past 90 days.

Fifth Third Bancorp increased its stake in Vicor Corporation (NASDAQ:VICR - Free Report) by 2,680.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,088 shares of the electronics maker's stock after purchasing an additional 4,905 shares during the period. Fifth Third Bancorp's holdings in Vicor were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in shares of Vicor in the fourth quarter valued at about $27,000. Blue Trust Inc. grew its holdings in shares of Vicor by 1,814.3% during the first quarter. Blue Trust Inc. now owns 268 shares of the electronics maker's stock worth $43,000 after buying an additional 254 shares in the last quarter. Harbour Investments Inc. bought a new position in shares of Vicor during the fourth quarter worth about $32,000. Allworth Financial LP raised its position in Vicor by 960.0% in the 4th quarter. Allworth Financial LP now owns 318 shares of the electronics maker's stock valued at $35,000 after buying an additional 288 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Vicor by 32,400.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 325 shares of the electronics maker's stock valued at $36,000 after buying an additional 324 shares during the last quarter. Institutional investors own 47.45% of the company's stock.

Analyst Upgrades and Downgrades

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

Vicor Stock Down 2.2%

NASDAQ:VICR opened at $206.44 on Tuesday. Vicor Corporation has a twelve month low of $41.76 and a twelve month high of $382.65. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 66.17 and a beta of 2.33. The stock's 50 day moving average price is $291.22 and its two-hundred day moving average price is $225.29.

Vicor (NASDAQ:VICR - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The electronics maker reported $1.04 EPS for the quarter, beating 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 company had revenue of $143.35 million during the quarter, compared to the consensus estimate of $138.37 million. During the same quarter in the prior year, the firm posted $0.91 EPS. The firm's revenue for the quarter was up 49.3% compared to the same quarter last year. As a group, analysts anticipate that Vicor Corporation will post 3.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Patrizio Vinciarelli sold 20,000 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $342.10, for a total value of $6,842,000.00. Following the completion of the sale, the chief executive officer directly owned 8,828,090 shares in the company, valued at approximately $3,020,089,589. This trade represents a 0.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,606 shares of company stock worth $117,177,948 in the last 90 days. 28.30% of the stock is currently owned by insiders.

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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