Goldman Sachs Group Inc. Lowers Stock Holdings in Vicor Corporation $VICR

Key Points

• Goldman Sachs Group Inc. reduced its stake in Vicor Corporation by 30.8%, selling 32,762 shares and holding approximately 73,573 shares valued at $3,442,000.
• Institutional investments in Vicor show a significant increase, with Millennium Management boosting its stake by 4,634.5% and JPMorgan Chase increasing its holdings by 15.6% in the first quarter.
• Vicor reported a strong earnings performance with $0.91 earnings per share for the last quarter, surpassing analyst expectations and showing a 64.3% year-over-year increase in revenue.

Goldman Sachs Group Inc. trimmed its holdings in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 30.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,573 shares of the electronics maker's stock after selling 32,762 shares during the period. Goldman Sachs Group Inc. owned about 0.16% of Vicor worth $3,442,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in VICR. Voya Investment Management LLC raised its position in Vicor by 22.5% in the first quarter. Voya Investment Management LLC now owns 14,655 shares of the electronics maker's stock worth $686,000 after acquiring an additional 2,695 shares during the period. Strs Ohio bought a new stake in shares of Vicor in the 1st quarter worth approximately $56,000. Acadian Asset Management LLC lifted its stake in Vicor by 56.1% in the first quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker's stock valued at $413,000 after purchasing an additional 3,184 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 valued at $1,943,000 after purchasing an additional 11,525 shares during the period. Finally, Millennium Management LLC grew its holdings 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 purchasing an additional 259,022 shares during the period. Institutional investors own 47.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on VICR. Wall Street Zen upgraded Vicor from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Needham & Company LLC restated a "hold" rating on shares of Vicor in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $43.00.

Vicor Stock Performance

NASDAQ VICR traded up $1.84 during trading hours on Monday, hitting $54.72. The company had a trading volume of 181,907 shares, compared to its average volume of 293,032. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 37.48 and a beta of 1.76. Vicor Corporation has a 52 week low of $36.80 and a 52 week high of $65.70. The firm has a 50 day simple moving average of $48.96 and a 200 day simple moving average of $47.15.

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

Insider Activity

In related news, Director Andrew D'amico sold 5,813 shares of Vicor stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $63.00, for a total transaction of $366,219.00. Following the completion of the sale, the director owned 1,217 shares of the company's stock, valued at approximately $76,671. This trade represents a 82.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.30% of the company's stock.

Vicor Company 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.