Public Sector Pension Investment Board Boosts Stake in Vicor Corporation $VICR

Key Points

• The Public Sector Pension Investment Board increased its holdings in Vicor Corporation by 26.9%, owning approximately 0.16% of the company, valued at about $3.4 million.
• Vicor reported a significant earnings surprise with $0.91 earnings per share, far exceeding the consensus estimate of $0.18, alongside a 64.3% year-over-year revenue increase to $141.05 million.
• Shares of Vicor opened at $48.13, with a market cap of $2.16 billion, and have a 12-month high of $65.70.

Public Sector Pension Investment Board raised its position in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,086 shares of the electronics maker's stock after buying an additional 15,476 shares during the quarter. Public Sector Pension Investment Board owned about 0.16% of Vicor worth $3,419,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Vicor during the first quarter valued at about $8,024,000. Virtu Financial LLC acquired a new position in Vicor in the 1st quarter worth approximately $247,000. Invesco Ltd. increased its holdings in Vicor by 7.7% in the 1st quarter. Invesco Ltd. now owns 64,649 shares of the electronics maker's stock worth $3,024,000 after buying an additional 4,621 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Vicor by 15.6% during the 1st quarter. JPMorgan Chase & Co. now owns 4,446,226 shares of the electronics maker's stock worth $207,994,000 after purchasing an additional 598,896 shares during the period. Finally, Herald Investment Management Ltd grew its stake in shares of Vicor by 15.0% during the 1st quarter. Herald Investment Management Ltd now owns 230,000 shares of the electronics maker's stock worth $10,750,000 after purchasing an additional 30,000 shares during the period. 47.45% of the stock is owned by hedge funds and other institutional investors.

Vicor Stock Performance

Shares of NASDAQ:VICR traded up $4.24 during midday trading on Friday, reaching $50.95. 393,293 shares of the company's stock traded hands, compared to its average volume of 403,416. Vicor Corporation has a 1 year low of $34.27 and a 1 year high of $65.70. The company has a market cap of $2.29 billion, a P/E ratio of 34.90 and a beta of 1.73. The company has a fifty day simple moving average of $46.50 and a two-hundred day simple moving average of $47.80.

Vicor (NASDAQ:VICR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.73. Vicor had a return on equity of 11.32% and a net margin of 15.44%.The firm had revenue of $141.05 million for the quarter, compared to analyst estimates of $96.43 million. During the same quarter last year, the firm posted $0.10 EPS. The business's revenue was up 64.3% on a year-over-year basis.

Analysts Set New Price Targets

A number of brokerages have recently commented on VICR. Needham & Company LLC reaffirmed a "hold" rating on shares of Vicor in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Vicor from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $43.00.

Insiders Place Their Bets

In other Vicor news, Director Andrew D'amico sold 5,813 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $63.00, for a total value of $366,219.00. Following the transaction, the director owned 1,217 shares in the company, valued at approximately $76,671. This trade represents a 82.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 31.30% of the company's stock.

Vicor Profile

Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as electrical and mechanical accessories.