Vicor Corporation (NASDAQ:VICR) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its stake in Vicor Corporation (NASDAQ:VICR - Free Report) by 29.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,011 shares of the electronics maker's stock after buying an additional 80,105 shares during the period. Pinnacle Associates Ltd. owned 0.79% of Vicor worth $16,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors purchased a new position in shares of Vicor in the first quarter worth $26,000. KBC Group NV purchased a new position in shares of Vicor during the first quarter worth $57,000. Headlands Technologies LLC purchased a new position in shares of Vicor during the fourth quarter worth $140,000. CWM LLC raised its holdings in shares of Vicor by 33.3% during the first quarter. CWM LLC now owns 3,211 shares of the electronics maker's stock worth $150,000 after purchasing an additional 802 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Vicor during the fourth quarter worth $227,000. Hedge funds and other institutional investors own 47.45% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a "hold" rating on shares of Vicor in a report on Wednesday.

Insider Activity

In related news, Director Andrew D'amico sold 5,813 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $63.00, for a total transaction of $366,219.00. Following the transaction, the director directly owned 1,217 shares in the company, valued at approximately $76,671. The trade was a 82.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.30% of the stock is currently owned by company insiders.

Vicor Price Performance

VICR stock traded down $5.53 during midday trading on Thursday, hitting $47.15. 736,290 shares of the stock traded hands, compared to its average volume of 359,078. The stock's fifty day simple moving average is $45.13 and its 200-day simple moving average is $48.42. Vicor Corporation has a 1-year low of $34.27 and a 1-year high of $65.70. The firm has a market cap of $2.13 billion, a P/E ratio of 32.29 and a beta of 1.75.

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

Vicor 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.