GatePass Capital LLC Purchases 23,000 Shares of Vicor Corporation $VICR

Key Points

• GatePass Capital LLC increased its Vicor position by 230% in the fourth quarter, buying 23,000 additional shares to hold 33,000 shares worth about $3.6 million.
• Vicor has drawn mixed but mostly positive analyst attention: Needham raised its price target to $260, Roth Mkm reiterated a $245 target, and the stock currently carries a consensus Buy rating with a $198.33 target price.
• Despite strong recent performance and solid quarterly results, insiders have been selling shares; Vicor reported Q1 earnings and revenue that beat expectations, while the stock traded near $267.99 after reaching a 52-week high of $316.82.

GatePass Capital LLC raised its position in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 230.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,000 shares of the electronics maker's stock after acquiring an additional 23,000 shares during the period. Vicor makes up approximately 1.9% of GatePass Capital LLC's investment portfolio, making the stock its 13th largest position. GatePass Capital LLC owned about 0.07% of Vicor worth $3,617,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in VICR. Dynamic Technology Lab Private Ltd bought a new stake in shares of Vicor in the third quarter valued at approximately $352,000. Summit Global Investments bought a new stake in Vicor during the third quarter worth $1,050,000. Colrain Capital LLC lifted its stake in Vicor by 10.4% during the third quarter. Colrain Capital LLC now owns 254,140 shares of the electronics maker's stock worth $12,636,000 after purchasing an additional 23,940 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Vicor by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 89,312 shares of the electronics maker's stock worth $4,441,000 after purchasing an additional 10,532 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Vicor by 36.6% during the third quarter. Intech Investment Management LLC now owns 29,786 shares of the electronics maker's stock worth $1,481,000 after purchasing an additional 7,985 shares during the last quarter. Institutional investors own 47.45% of the company's stock.

Wall Street Analysts Forecast Growth

VICR has been the subject of several recent analyst reports. Needham & Company LLC upped their target price on Vicor from $180.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Roth Mkm restated a "buy" rating and set a $245.00 target price on shares of Vicor in a research note on Monday, April 20th. Wall Street Zen cut Vicor from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Zacks Research upgraded Vicor from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 23rd. One 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's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $198.33.

Insiders Place Their Bets

In related news, VP Kemble D. Morrison sold 2,313 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $301.59, for a total value of $697,577.67. Following the completion of the sale, the vice president directly owned 372 shares in the company, valued at $112,191.48. This represents a 86.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew D'amico sold 800 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $315.35, for a total value of $252,280.00. Following the completion of the sale, the director owned 800 shares of the company's stock, valued at $252,280. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 722,802 shares of company stock valued at $140,984,192 over the last ninety days. 31.30% of the stock is currently owned by corporate insiders.

Vicor Price Performance

NASDAQ VICR opened at $267.99 on Tuesday. Vicor Corporation has a twelve month low of $40.54 and a twelve month high of $316.82. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 89.63 and a beta of 2.33. The business's fifty day moving average is $219.98 and its 200 day moving average is $163.18.

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

About Vicor

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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