Insider Selling: Vicor (NASDAQ:VICR) VP Sells 3,073 Shares of Stock

Key Points

• Vicor VP Philip Davies sold 3,073 shares at an average price of $177.70, generating $546,072.10. His remaining direct ownership fell 61.55% to 1,920 shares.
• Vicor shares recently traded at $179.11, well below their 50-day and 200-day moving averages of approximately $237, while the stock’s market capitalization stood at $8.26 billion.
• The company reported stronger-than-expected quarterly results, with $1.04 earnings per share and $143.35 million in revenue, up 49.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $381.67.

Vicor Corporation (NASDAQ:VICR - Get Free Report) VP Philip Davies sold 3,073 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $177.70, for a total value of $546,072.10. Following the completion of the sale, the vice president directly owned 1,920 shares in the company, valued at approximately $341,184. This represents a 61.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vicor Price Performance

VICR stock traded down $2.48 on Thursday, reaching $179.11. 311,761 shares of the company traded hands, compared to its average volume of 842,852. Vicor Corporation has a one year low of $47.56 and a one year high of $382.65. The company has a market cap of $8.26 billion, a P/E ratio of 57.41 and a beta of 2.35. The firm has a fifty day simple moving average of $237.37 and a 200-day simple moving average of $235.55.

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

Analysts Set New Price Targets

A number of analysts have weighed in on VICR shares. Craig Hallum raised their price objective on shares of Vicor to $450.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of Vicor from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. Roth Capital increased their price target on shares of Vicor from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Zacks Research downgraded shares of Vicor from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Finally, Needham & Company LLC decreased their price objective on shares of Vicor from $400.00 to $320.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Vicor currently has a consensus rating of "Moderate Buy" and a consensus target price of $381.67.

Institutional Investors Weigh In On Vicor

Several large investors have recently bought and sold shares of the business. Andar Capital Management HK Ltd bought a new position in Vicor during the 2nd quarter valued at about $101,100,000. California State Teachers Retirement System grew its stake in shares of Vicor by 38,392.1% in the second quarter. California State Teachers Retirement System now owns 10,377,868 shares of the electronics maker's stock worth $3,941,307,000 after acquiring an additional 10,350,907 shares during the period. BlackRock Inc. bought a new stake in shares of Vicor in the second quarter worth approximately $934,612,000. The Manufacturers Life Insurance Company raised its holdings in shares of Vicor by 3,918.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 432,189 shares of the electronics maker's stock valued at $47,368,000 after purchasing an additional 421,435 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Vicor by 1,542.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 439,820 shares of the electronics maker's stock valued at $48,205,000 after purchasing an additional 413,038 shares during the last quarter. 47.45% of the stock is currently owned by institutional investors.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source