Vicor Corporation $VICR Shares Sold by Pinnacle Associates Ltd.

Key Points

• CEO Patrizio Vinciarelli sold 50,000 shares at an average price of $201.54 on March 4 (about $10.08M); insiders have sold 221,742 shares worth $32.02M in the last 90 days and now own 31.30% of the company.
• Pinnacle Associates trimmed its stake by 4.0%, selling 10,756 shares and leaving 260,648 shares (~$12.96M), while other institutional investors both added and reduced positions and total institutional ownership is 47.45%.
• Vicor beat expectations: quarterly EPS $1.01 vs. $0.38 consensus and revenue $362.7M vs. $107.8M, with a market cap of $7.26B, a P/E of 62.33, and a 1‑year trading range of $38.92–$209.53.

Pinnacle Associates Ltd. cut its holdings in shares of Vicor Corporation (NASDAQ:VICR - Free Report) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 260,648 shares of the electronics maker's stock after selling 10,756 shares during the quarter. Pinnacle Associates Ltd. owned about 0.58% of Vicor worth $12,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Vicor by 53.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 603 shares of the electronics maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Vicor by 13.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the electronics maker's stock worth $56,000 after acquiring an additional 136 shares during the last quarter. Strs Ohio acquired a new stake in shares of Vicor in the first quarter worth approximately $56,000. Tower Research Capital LLC TRC grew its holdings in Vicor by 993.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,782 shares of the electronics maker's stock valued at $172,000 after purchasing an additional 3,436 shares during the period. Finally, Creative Planning purchased a new stake in Vicor in the second quarter valued at approximately $235,000. 47.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Patrizio Vinciarelli sold 50,000 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $201.54, for a total transaction of $10,077,000.00. Following the completion of the sale, the chief executive officer directly owned 9,658,163 shares of the company's stock, valued at approximately $1,946,506,171.02. This represents a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sean Crilly sold 6,000 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $197.73, for a total value of $1,186,380.00. Following the completion of the sale, the vice president owned 9,729 shares of the company's stock, valued at approximately $1,923,715.17. This represents a 38.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 221,742 shares of company stock valued at $32,021,592. Company insiders own 31.30% of the company's stock.

Vicor Stock Performance

VICR opened at $162.67 on Monday. The firm has a 50 day moving average price of $157.70 and a 200 day moving average price of $103.33. The company has a market cap of $7.26 billion, a PE ratio of 62.33 and a beta of 1.83. Vicor Corporation has a 1 year low of $38.92 and a 1 year high of $209.53.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The electronics maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.38 by $0.63. Vicor had a net margin of 26.19% and a return on equity of 18.73%. The firm had revenue of $362.70 million for the quarter, compared to analyst estimates of $107.78 million. During the same quarter last year, the firm posted $0.23 earnings per share. Vicor's revenue for the quarter was up 11.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VICR shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Vicor in a research note on Wednesday, January 21st. Roth Mkm reissued a "buy" rating and set a $175.00 price objective on shares of Vicor in a research note on Thursday, January 22nd. Zacks Research upgraded Vicor from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Finally, Wall Street Zen lowered Vicor from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Vicor currently has an average rating of "Buy" and a consensus target price of $118.33.

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.

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.