Rice Hall James & Associates LLC Cuts Stock Position in Vicor Corporation $VICR

Key Points

• Rice Hall James & Associates cut its Vicor position by 25.7% in the first quarter, selling 9,954 shares and leaving it with 28,807 shares valued at about $4.64 million.
• Vicor shares were down 8.8% and opened at $211.01, though the stock remains well above its 1-year low; the company has a market cap of $9.62 billion.
• Vicor posted strong quarterly results, with EPS of $1.04 versus the $0.65 consensus and revenue up 49.3% year over year to $143.35 million, even as analysts remain split but lean positive with a “Moderate Buy” rating.

Rice Hall James & Associates LLC reduced its position in Vicor Corporation (NASDAQ:VICR - Free Report) by 25.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,807 shares of the electronics maker's stock after selling 9,954 shares during the quarter. Rice Hall James & Associates LLC owned 0.06% of Vicor worth $4,638,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of VICR. Royal Bank of Canada lifted its position in Vicor by 6.0% in the 1st quarter. Royal Bank of Canada now owns 15,167 shares of the electronics maker's stock worth $709,000 after buying an additional 857 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vicor by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker's stock valued at $633,000 after acquiring an additional 563 shares during the last quarter. Millennium Management LLC grew its position in Vicor by 4,634.5% during the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock valued at $12,379,000 after acquiring an additional 259,022 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Vicor by 38.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,541 shares of the electronics maker's stock worth $1,943,000 after acquiring an additional 11,525 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Vicor by 56.1% in the 1st quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker's stock worth $413,000 after acquiring an additional 3,184 shares during the last quarter. 47.45% of the stock is currently owned by institutional investors.

Vicor Trading Down 8.8%

Vicor stock opened at $211.01 on Friday. The firm has a market cap of $9.62 billion, a P/E ratio of 67.63 and a beta of 2.33. Vicor Corporation has a 1-year low of $41.76 and a 1-year high of $382.65. The firm has a 50-day moving average of $292.07 and a 200-day moving average of $224.17.

Vicor (NASDAQ:VICR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share (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 for the quarter, compared to the consensus estimate of $138.37 million. During the same quarter in the previous year, the business earned $0.91 EPS. Vicor's revenue was up 49.3% compared to the same quarter last year. Research analysts forecast that Vicor Corporation will post 3.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Patrizio Vinciarelli sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $342.10, for a total transaction of $6,842,000.00. Following the completion of the transaction, the chief executive officer owned 8,828,090 shares in the company, valued at $3,020,089,589. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 369,647 shares of company stock worth $117,743,305 over the last 90 days. 28.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VICR shares. Wall Street Zen cut shares of Vicor from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Needham & Company LLC decreased their target price on shares of Vicor from $400.00 to $320.00 and set a "buy" rating on the stock in a research report on Tuesday. Weiss Ratings downgraded shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday. Roth Capital boosted their price target on shares of Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Finally, Craig Hallum upped their price target on shares of Vicor to $450.00 and gave the company 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $381.67.

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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