The Manufacturers Life Insurance Company Sells 72,479 Shares of Vicor Corporation $VICR

Key Points

• The Manufacturers Life Insurance Company reduced its Vicor stake by 12%, selling 72,479 shares and retaining 530,885 shares worth approximately $201.6 million. Institutional investors collectively own 47.45% of the company.
• Analyst sentiment remains positive but mixed, with three Buy ratings and two Holds. Vicor has an average “Moderate Buy” rating and a consensus price target of $381.67, although individual targets range from $320 to $450.
• Vicor reported quarterly earnings of $1.04 per share, exceeding the $0.65 consensus estimate, while revenue rose 49.3% year over year to $143.35 million. However, insiders sold $59.2 million of stock over the past three months, and shares recently traded at $178.05.

The Manufacturers Life Insurance Company trimmed its position in Vicor Corporation (NASDAQ:VICR - Free Report) by 12.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,885 shares of the electronics maker's stock after selling 72,479 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.15% of Vicor worth $201,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carolina Wealth Advisors LLC increased its stake in shares of Vicor by 70.9% in the second quarter. Carolina Wealth Advisors LLC now owns 147 shares of the electronics maker's stock worth $56,000 after purchasing an additional 61 shares in the last quarter. Elevation Wealth Partners LLC purchased a new position in shares of Vicor during the 2nd quarter valued at $76,000. Federated Hermes Inc. purchased a new position in shares of Vicor during the 4th quarter valued at $27,000. Blue Trust Inc. boosted its holdings in Vicor by 1,814.3% in the 1st quarter. Blue Trust Inc. now owns 268 shares of the electronics maker's stock worth $43,000 after buying an additional 254 shares during the period. Finally, ROSS JOHNSON & Associates LLC boosted its holdings in Vicor by 13,750.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 277 shares of the electronics maker's stock worth $45,000 after buying an additional 275 shares during the period. Institutional investors own 47.45% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Needham & Company LLC cut their price target on Vicor from $400.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Weiss Ratings upgraded Vicor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 3rd. Roth Capital upped their price objective on Vicor from $285.00 to $375.00 and gave the stock 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 research report on Thursday, July 2nd. Finally, Craig Hallum lifted their target price on Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vicor presently has an average rating of "Moderate Buy" and an average price target of $381.67.

Insiders Place Their Bets

In other news, CEO Patrizio Vinciarelli sold 20,000 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $323.05, for a total value of $6,461,000.00. Following the sale, the chief executive officer directly owned 8,428,090 shares in the company, valued at $2,722,694,474.50. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Philip Davies sold 3,073 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $356.97, for a total transaction of $1,096,968.81. Following the sale, the vice president owned 1,920 shares in the company, valued at $685,382.40. This represents a 61.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 177,536 shares of company stock valued at $59,194,338 over the last three months. Corporate insiders own 28.30% of the company's stock.

Vicor Price Performance

Shares of VICR opened at $178.05 on Friday. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 57.07 and a beta of 2.35. Vicor Corporation has a 1 year low of $47.56 and a 1 year high of $382.65. The business's 50 day simple moving average is $218.82 and its 200-day simple moving average is $236.70.

Vicor (NASDAQ:VICR - Get Free Report) last posted its earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. The firm had revenue of $143.35 million during the quarter, compared to analyst estimates of $138.37 million. Vicor had a net margin of 30.65% and a return on equity of 19.83%. Vicor's revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. On average, sell-side analysts expect that Vicor Corporation will post 3.28 earnings per share for the current year.

Vicor Profile

Vicor Corporation NASDAQ: VICR designs, manufactures and markets modular power components and power systems. The company's products are used to convert, regulate and distribute electrical power in electronic systems, with an emphasis on high-density, efficient and scalable power-conversion technology.

Its portfolio includes AC-to-DC and DC-to-DC power modules, bus converters, point-of-load regulators, power accessories and complete power systems. Vicor's Factorized Power Architecture separates power conversion, transformation and regulation functions to help customers address power-density, thermal-management and system-design requirements.

Vicor serves customers in markets including data centers and communications infrastructure, automotive and transportation, aerospace and defense, industrial equipment, and other high-performance electronics applications.

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