Janney Montgomery Scott LLC Buys Shares of 4,724 Vicor Corporation $VICR

Key Points

• Janney Montgomery Scott LLC initiated a new position in Vicor Corporation during the first quarter, buying 4,724 shares valued at about $761,000.
• Wall Street sentiment is broadly positive, with Vicor carrying an average “Moderate Buy” rating and an average price target of $408.33 after several firms recently raised targets.
• Vicor reported stronger-than-expected quarterly results, including $0.44 EPS versus the $0.40 estimate and revenue up 20.2% year over year, even as several insiders sold shares in recent months.

Janney Montgomery Scott LLC purchased a new stake in shares of Vicor Corporation (NASDAQ:VICR - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,724 shares of the electronics maker's stock, valued at approximately $761,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC grew its stake in Vicor by 1.7% during the fourth quarter. ProShare Advisors LLC now owns 4,469 shares of the electronics maker's stock valued at $490,000 after acquiring an additional 74 shares in the last quarter. Bouvel Investment Partners LLC lifted its stake in Vicor by 0.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 24,183 shares of the electronics maker's stock worth $2,650,000 after purchasing an additional 85 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Vicor by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,238 shares of the electronics maker's stock worth $574,000 after purchasing an additional 90 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Vicor by 13.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the electronics maker's stock valued at $56,000 after purchasing an additional 136 shares during the period. Finally, Truist Financial Corp boosted its holdings in Vicor by 2.1% in the 4th quarter. Truist Financial Corp now owns 6,940 shares of the electronics maker's stock valued at $761,000 after purchasing an additional 140 shares during the period. 47.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VICR. Craig Hallum boosted their price target on shares of Vicor to $450.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Vicor in a research report on Monday, June 1st. Roth Capital lifted their price objective on Vicor from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Zacks Research cut Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Finally, Needham & Company LLC upped their target price on Vicor to $400.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Vicor presently has an average rating of "Moderate Buy" and an average price target of $408.33.

Insider Transactions at Vicor

In other Vicor news, Director Andrew D'amico sold 331 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $319.53, for a total value of $105,764.43. Following the completion of the sale, the director owned 200 shares of the company's stock, valued at $63,906. This represents a 62.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James F. Schmidt sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $331.68, for a total transaction of $331,680.00. Following the transaction, the chief financial officer owned 1,000 shares in the company, valued at $331,680. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 482,682 shares of company stock worth $141,465,933. 28.30% of the stock is owned by corporate insiders.

Vicor Stock Down 7.3%

VICR opened at $252.16 on Tuesday. The stock has a market cap of $11.49 billion, a PE ratio of 84.33 and a beta of 2.33. Vicor Corporation has a 52 week low of $41.76 and a 52 week high of $382.65. The business's fifty day simple moving average is $300.97 and its 200 day simple moving average is $217.23.

Vicor (NASDAQ:VICR - Get Free Report) last released its quarterly earnings results 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 for 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%.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 earnings per share. As a group, equities analysts anticipate that Vicor Corporation will post 2.94 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.

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.