State of Michigan Retirement System Makes New Investment in Vicor Corporation $VICR

Key Points

• State of Michigan Retirement System opened a new position in Vicor Corporation in Q1, buying 5,500 shares worth about $886,000.
• Vicor has also seen notable institutional and insider activity: hedge funds own 47.45% of the company, while CEO Patrizio Vinciarelli sold 20,000 shares in a pre-arranged trading plan and insiders sold $123.9 million worth of stock over the last 90 days.
• Analysts remain generally positive on Vicor, with a Moderate Buy consensus and an average price target of $408.33, even as the stock traded down 2.8% and recently reported quarterly earnings that beat expectations.

State of Michigan Retirement System purchased a new stake in Vicor Corporation (NASDAQ:VICR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,500 shares of the electronics maker's stock, valued at approximately $886,000.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. purchased a new stake in shares of Vicor in the 4th quarter worth about $27,000. Blue Trust Inc. increased its holdings in Vicor by 1,814.3% during the 1st quarter. Blue Trust Inc. now owns 268 shares of the electronics maker's stock valued at $43,000 after acquiring an additional 254 shares in the last quarter. Harbour Investments Inc. acquired a new position in Vicor during the fourth quarter worth about $32,000. Allworth Financial LP raised its position in Vicor by 960.0% during the fourth quarter. Allworth Financial LP now owns 318 shares of the electronics maker's stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Vicor by 32,400.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 325 shares of the electronics maker's stock valued at $36,000 after purchasing an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 47.45% of the company's stock.

Insiders Place Their Bets

In other Vicor news, CEO Patrizio Vinciarelli sold 20,000 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $342.10, for a total transaction of $6,842,000.00. Following the sale, the chief executive officer directly owned 8,828,090 shares of the company's stock, valued at $3,020,089,589. The trade was a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 392,682 shares of company stock worth $123,899,833. Insiders own 28.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Roth Capital increased their price target on shares of Vicor from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Craig Hallum upped their target price on Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Zacks Research cut Vicor from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 2nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Vicor in a research report on Monday, June 1st. Finally, Needham & Company LLC boosted their price target on Vicor to $400.00 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 given a Hold rating to the company. Based on data from MarketBeat, Vicor presently has an average rating of "Moderate Buy" and a consensus price target of $408.33.

Vicor Trading Down 2.8%

Vicor stock opened at $230.99 on Tuesday. The stock has a market cap of $10.53 billion, a P/E ratio of 77.25 and a beta of 2.33. The stock has a 50 day moving average of $297.90 and a 200-day moving average of $221.96. Vicor Corporation has a 52 week low of $41.76 and a 52 week high of $382.65.

Vicor (NASDAQ:VICR - Get Free Report) last released its earnings results on Tuesday, April 21st. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Vicor had a net margin of 28.98% and a return on equity of 20.21%. The business had revenue of $112.97 million during the quarter, compared to analyst estimates of $109.05 million. During the same period in the prior year, the business earned $0.06 earnings per share. The business's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Vicor Corporation will post 2.94 earnings per share for the current fiscal year.

About Vicor

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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