Insider Selling: Vicor (NASDAQ:VICR) CAO Sells 5,060 Shares of Stock

Key Points

• Vicor CAO Quentin Fendelet sold 5,060 shares on May 6 at an average price of $277.07, totaling about $1.40 million. After the sale, he still held 2,434 shares, reducing his ownership by 67.52%.
• Vicor shares fell 2.6% in Friday trading to $254.57, though the stock remains well above its 50-day and 200-day moving averages. The company has a market cap of about $11.55 billion and a 52-week range of $40.54 to $293.95.
• The company recently beat earnings expectations, reporting Q1 EPS of $0.44 versus $0.40 expected and revenue of $112.97 million, up 20.2% year over year. Analyst sentiment remains mostly positive, with a consensus rating of “Buy” and an average price target of $198.33.

Vicor Corporation (NASDAQ:VICR - Get Free Report) CAO Quentin Fendelet sold 5,060 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $277.07, for a total transaction of $1,401,974.20. Following the transaction, the chief accounting officer directly owned 2,434 shares of the company's stock, valued at approximately $674,388.38. This trade represents a 67.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Vicor Stock Down 2.6%

Shares of VICR traded down $6.77 during mid-day trading on Friday, reaching $254.57. 517,503 shares of the company's stock were exchanged, compared to its average volume of 808,152. The company has a 50-day simple moving average of $199.16 and a two-hundred day simple moving average of $147.20. Vicor Corporation has a 52-week low of $40.54 and a 52-week high of $293.95. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 85.23 and a beta of 2.33.

Vicor (NASDAQ:VICR - Get Free Report) last released its earnings results on Tuesday, April 21st. The electronics maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. The firm had revenue of $112.97 million during the quarter, compared to analysts' expectations of $109.05 million. Vicor had a net margin of 28.98% and a return on equity of 20.21%. Vicor's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. As a group, equities research analysts predict that Vicor Corporation will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on VICR shares. Needham & Company LLC lifted their target price on shares of Vicor from $180.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Roth Mkm reaffirmed a "buy" rating and issued a $245.00 target price on shares of Vicor in a research note on Monday, April 20th. Zacks Research raised shares of Vicor from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 23rd. Wall Street Zen cut shares of Vicor from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Vicor in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $198.33.

Hedge Funds Weigh In On Vicor

A number of hedge funds have recently made changes to their positions in VICR. Royal Bank of Canada lifted its holdings in shares of Vicor by 6.0% during the 1st quarter. Royal Bank of Canada now owns 15,167 shares of the electronics maker's stock valued at $709,000 after acquiring an additional 857 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Vicor by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker's stock valued at $633,000 after acquiring an additional 563 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Vicor by 4,634.5% during the 1st quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock valued at $12,379,000 after acquiring an additional 259,022 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Vicor by 38.4% during the 1st 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 acquiring an additional 11,525 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Vicor by 56.1% during the 1st quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker's stock valued at $413,000 after acquiring an additional 3,184 shares in the last quarter. Institutional investors and hedge funds own 47.45% of the company's stock.

About Vicor

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.

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