Renaissance Technologies LLC Grows Stake in Vicor Corporation $VICR

Key Points

• Renaissance Technologies increased its Vicor stake by 363.7% in the first quarter, purchasing 37,100 additional shares and holding 47,300 shares worth approximately $7.6 million. Institutional investors collectively own 47.45% of Vicor.
• Vicor reported quarterly EPS of $1.04, beating estimates of $0.65, while revenue rose 49.3% year over year to $143.35 million. Analysts expect the company to post $3.12 in EPS for the full year.
• Analyst sentiment remains positive overall, with three Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $381.67, despite several recent downgrades to Hold.

Renaissance Technologies LLC lifted its stake in Vicor Corporation (NASDAQ:VICR - Free Report) by 363.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,300 shares of the electronics maker's stock after purchasing an additional 37,100 shares during the quarter. Renaissance Technologies LLC owned 0.10% of Vicor worth $7,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VICR. Convergence Investment Partners LLC purchased a new position in Vicor in the fourth quarter worth about $1,631,000. Chicago Capital LLC purchased a new stake in shares of Vicor during the fourth quarter valued at approximately $771,000. Janney Montgomery Scott LLC bought a new stake in shares of Vicor during the first quarter valued at approximately $761,000. Washburn Capital Management Inc. bought a new stake in shares of Vicor during the fourth quarter valued at approximately $812,000. Finally, Andar Capital Management HK Ltd raised its holdings in Vicor by 71.9% in the 1st quarter. Andar Capital Management HK Ltd now owns 55,000 shares of the electronics maker's stock worth $8,855,000 after acquiring an additional 23,000 shares during the last quarter. Institutional investors own 47.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on VICR. Weiss Ratings downgraded Vicor from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Zacks Research cut Vicor from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 2nd. Craig Hallum upped their price target on Vicor to $450.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Wall Street Zen cut Vicor from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Roth Capital lifted their price objective on Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $381.67.

Vicor Price Performance

VICR stock opened at $213.54 on Tuesday. The company has a market cap of $9.73 billion, a P/E ratio of 68.44 and a beta of 2.37. Vicor Corporation has a 1 year low of $44.37 and a 1 year high of $382.65. The stock's fifty day moving average price is $285.03 and its 200-day moving average price is $227.45.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The electronics maker reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. Vicor had a return on equity of 19.83% and a net margin of 30.65%.The company had revenue of $143.35 million during the quarter, compared to analysts' expectations of $138.37 million. Vicor's revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, analysts expect that Vicor Corporation will post 3.12 earnings per share for the current year.

Insider Buying and Selling at Vicor

In related news, CEO Patrizio Vinciarelli sold 700 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $302.40, for a total value of $211,680.00. Following the transaction, the chief executive officer owned 8,347,390 shares of the company's stock, valued at approximately $2,524,250,736. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James F. Schmidt sold 1,000 shares of the business's 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 sale, the chief financial officer owned 1,000 shares of the company's stock, valued at $331,680. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 347,335 shares of company stock worth $111,936,227 over the last 90 days. 28.30% of the stock is owned by company insiders.

Vicor Company 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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