The Manufacturers Life Insurance Company Raises Position in Vicor Corporation $VICR

Key Points

• The Manufacturers Life Insurance Company increased its Vicor stake by 39.6% in the first quarter, adding 171,175 shares to own 603,364 shares valued at approximately $97.1 million. Institutional investors collectively hold 47.45% of Vicor.
• Vicor reported quarterly adjusted earnings of $1.04 per share, exceeding the $0.65 consensus estimate, while revenue rose 49.3% year over year to $143.35 million. Despite the strong results, the stock opened at $192.12, down 6.9%.
• Analyst sentiment remains positive but mixed, with three Buy ratings and two Holds producing a “Moderate Buy” consensus and a $381.67 average price target. Meanwhile, insiders sold about $117.2 million of shares over the past 90 days.

The Manufacturers Life Insurance Company lifted its position in Vicor Corporation (NASDAQ:VICR - Free Report) by 39.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 603,364 shares of the electronics maker's stock after buying an additional 171,175 shares during the period. The Manufacturers Life Insurance Company owned about 1.32% of Vicor worth $97,142,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VICR. Royal Bank of Canada raised its holdings 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 acquiring an additional 857 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Vicor by 4.3% in the 1st 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 in the last quarter. Millennium Management LLC boosted its stake in Vicor by 4,634.5% during the 1st quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock valued at $12,379,000 after purchasing an additional 259,022 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Vicor by 38.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,541 shares of the electronics maker's stock valued at $1,943,000 after purchasing an additional 11,525 shares during the last quarter. Finally, Acadian Asset Management LLC increased 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 purchasing an additional 3,184 shares in the last quarter. Hedge funds and other institutional investors own 47.45% of the company's stock.

Vicor Trading Down 6.9%

NASDAQ:VICR opened at $192.12 on Wednesday. Vicor Corporation has a 12 month low of $41.76 and a 12 month high of $382.65. The company has a market cap of $8.76 billion, a PE ratio of 61.58 and a beta of 2.33. The company has a 50 day simple moving average of $290.19 and a two-hundred day simple moving average of $225.66.

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

Analysts Set New Price Targets

VICR has been the subject of several recent analyst reports. Roth Capital boosted their price target on Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a research note 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. Needham & Company LLC reduced their price objective on Vicor from $400.00 to $320.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Zacks Research lowered Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings lowered Vicor from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $381.67.

Insider Transactions at Vicor

In related news, CFO James F. Schmidt sold 1,000 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $331.68, for a total transaction of $331,680.00. Following the completion of the sale, the chief financial officer owned 1,000 shares in the company, valued at approximately $331,680. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip D. Davies sold 3,073 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $356.97, for a total value of $1,096,968.81. Following the completion of the transaction, the vice president directly owned 1,920 shares in the company, valued at approximately $685,382.40. This represents a 61.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 367,606 shares of company stock worth $117,177,948. 28.30% of the stock is currently owned by 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.

Want to see what other hedge funds are holding VICR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vicor Corporation (NASDAQ:VICR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.