New York State Teachers Retirement System Has $3.69 Million Stock Position in Vicor Corporation $VICR

Key Points

• New York State Teachers Retirement System cut its Vicor position by 33.4% in Q1, selling 11,514 shares and ending with 22,936 shares valued at about $3.69 million.
• Vicor insiders were active sellers: Director Andrew D'Amico and CFO James F. Schmidt both sold shares recently, and insiders sold a total of 502,460 shares worth $145.2 million last quarter.
• Analysts remain generally positive despite some downgrades, with a consensus rating of Moderate Buy and an average price target of $408.33; the stock also rose 5.4% and the company recently beat earnings and revenue estimates.

New York State Teachers Retirement System reduced its position in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,936 shares of the electronics maker's stock after selling 11,514 shares during the period. New York State Teachers Retirement System owned 0.05% of Vicor worth $3,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VICR. Sierra Summit Advisors LLC acquired a new position in Vicor during the 1st quarter worth $1,087,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Vicor in the first quarter valued at about $3,627,000. Janney Montgomery Scott LLC bought a new position in shares of Vicor in the first quarter worth about $761,000. Pictet Asset Management Holding SA increased its stake in shares of Vicor by 13.5% in the first quarter. Pictet Asset Management Holding SA now owns 3,604 shares of the electronics maker's stock worth $580,000 after purchasing an additional 428 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of Vicor by 4,076.7% during the 1st quarter. Sterling Capital Management LLC now owns 6,265 shares of the electronics maker's stock worth $1,009,000 after purchasing an additional 6,115 shares during the last quarter. 47.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Vicor news, Director Andrew D'amico sold 331 shares of the company's stock in a transaction 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 sale, the director directly owned 200 shares in the company, valued at $63,906. This represents a 62.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James F. Schmidt sold 1,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $331.68, for a total value of $331,680.00. Following the transaction, the chief financial officer owned 1,000 shares of the company's stock, valued at $331,680. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 502,460 shares of company stock worth $145,214,062 in the last quarter. Corporate insiders own 28.30% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on VICR shares. Wall Street Zen downgraded Vicor from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Roth Capital upped their price target on Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a report 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. Craig Hallum raised their price objective on shares of Vicor to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Finally, Needham & Company LLC boosted their target price on shares of Vicor to $400.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $408.33.

Vicor Stock Up 5.4%

NASDAQ:VICR opened at $277.43 on Friday. The firm has a market capitalization of $12.65 billion, a PE ratio of 92.79 and a beta of 2.33. Vicor Corporation has a 12-month low of $41.76 and a 12-month high of $382.65. The firm has a 50-day moving average price of $301.00 and a 200 day moving average price of $215.09.

Vicor (NASDAQ:VICR - Get Free Report) last released 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. Vicor had a return on equity of 20.21% and a net margin of 28.98%.The company had revenue of $112.97 million for the quarter, compared to the consensus estimate of $109.05 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company's quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts expect that Vicor Corporation will post 2.94 EPS 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.

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