Needham Investment Management LLC Has $36.21 Million Stake in Vicor Corporation $VICR

Key Points

• Needham Investment Management LLC reduced its stake in Vicor Corporation by 11.4%, now holding 774,000 shares valued at approximately $36.21 million.
• Vicor reported a significant increase in revenue, posting $141.05 million for the quarter, reflecting a 64.3% year-over-year growth.
• Analysts have a generally positive outlook for Vicor, with the stock receiving a "buy" rating from Wall Street Zen and a consensus target price of $43.00.

Needham Investment Management LLC lessened its holdings in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 774,000 shares of the electronics maker's stock after selling 100,000 shares during the quarter. Vicor comprises 3.4% of Needham Investment Management LLC's investment portfolio, making the stock its 2nd largest position. Needham Investment Management LLC owned about 1.71% of Vicor worth $36,208,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Manchester Capital Management LLC raised its holdings in shares of Vicor by 76.8% during the 1st quarter. Manchester Capital Management LLC now owns 610 shares of the electronics maker's stock valued at $29,000 after buying an additional 265 shares in the last quarter. Optimum Investment Advisors bought a new stake in Vicor in the first quarter worth $26,000. Blair William & Co. IL boosted its holdings in Vicor by 12.6% in the first quarter. Blair William & Co. IL now owns 4,910 shares of the electronics maker's stock worth $230,000 after acquiring an additional 550 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Vicor by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker's stock worth $633,000 after purchasing an additional 563 shares during the last quarter. Finally, Ashford Capital Management Inc. increased its position in Vicor by 2.5% during the fourth quarter. Ashford Capital Management Inc. now owns 24,150 shares of the electronics maker's stock valued at $1,167,000 after acquiring an additional 600 shares during the last quarter. 47.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on VICR shares. Needham & Company LLC reiterated a "hold" rating on shares of Vicor in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Vicor from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $43.00.

Insider Buying and Selling

In related news, Director Andrew D'amico sold 5,813 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $63.00, for a total transaction of $366,219.00. Following the completion of the transaction, the director directly owned 1,217 shares of the company's stock, valued at approximately $76,671. This represents a 82.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.30% of the company's stock.

Vicor Stock Up 0.1%

Vicor stock traded up $0.03 during midday trading on Wednesday, reaching $50.09. 189,648 shares of the stock traded hands, compared to its average volume of 297,695. The stock's fifty day moving average is $47.89 and its 200-day moving average is $47.80. Vicor Corporation has a 12 month low of $34.68 and a 12 month high of $65.70. The stock has a market cap of $2.25 billion, a P/E ratio of 34.31 and a beta of 1.76.

Vicor (NASDAQ:VICR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The electronics maker reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.73. Vicor had a return on equity of 11.32% and a net margin of 15.44%.The company had revenue of $141.05 million during the quarter, compared to analyst estimates of $96.43 million. During the same period in the prior year, the company earned $0.10 earnings per share. The firm's revenue was up 64.3% on a year-over-year basis.

About Vicor

Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as electrical and mechanical accessories.