Needham Investment Management LLC Sells 100,000 Shares of 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 lowered its stake in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 11.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 774,000 shares of the electronics maker's stock after selling 100,000 shares during the quarter. Vicor makes up approximately 3.4% of Needham Investment Management LLC's holdings, making the stock its 2nd largest position. Needham Investment Management LLC owned approximately 1.71% of Vicor worth $36,208,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in VICR. Optimum Investment Advisors acquired a new position in Vicor during the 1st quarter worth $26,000. Manchester Capital Management LLC boosted its position in Vicor by 76.8% during the 1st quarter. Manchester Capital Management LLC now owns 610 shares of the electronics maker's stock worth $29,000 after acquiring an additional 265 shares during the period. KBC Group NV acquired a new position in Vicor during the 1st quarter worth $57,000. CWM LLC boosted its position in Vicor by 33.3% during the 1st quarter. CWM LLC now owns 3,211 shares of the electronics maker's stock worth $150,000 after acquiring an additional 802 shares during the period. Finally, Blair William & Co. IL boosted its position in Vicor by 12.6% during the 1st 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 during the period. Institutional investors and hedge funds own 47.45% of the company's stock.

Insider Activity

In other news, Director Andrew D'amico sold 5,813 shares of the business's stock in a transaction 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 sale, the director directly owned 1,217 shares of the company's stock, valued at $76,671. The trade was a 82.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.30% of the stock is owned by company insiders.

Vicor Price Performance

Shares of VICR traded up $0.59 during midday trading on Thursday, reaching $50.68. The stock had a trading volume of 63,024 shares, compared to its average volume of 296,299. Vicor Corporation has a 52 week low of $35.41 and a 52 week high of $65.70. The firm's 50 day moving average price is $47.97 and its 200-day moving average price is $47.81. The company has a market capitalization of $2.28 billion, a P/E ratio of 34.71 and a beta of 1.76.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The electronics maker reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.73. The company had revenue of $141.05 million for the quarter, compared to the consensus estimate of $96.43 million. Vicor had a return on equity of 11.32% and a net margin of 15.44%.The company's quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS.

Analysts Set New Price Targets

A number of research analysts have issued reports 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 given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $43.00.

Vicor Company Profile

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.