Vicor (NASDAQ:VICR) Shares Gap Down - Here's What Happened

Key Points

• Vicor shares fell 7.1%, opening at $182.24 versus a prior close of $197.91, amid trading volume of 103,605 shares.
• Analyst sentiment remains favorable overall, with three Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $381.67, despite some target reductions and a recent downgrade.
• Vicor reported stronger-than-expected quarterly results, including EPS of $1.04 versus the $0.65 consensus and 49.3% year-over-year revenue growth; however, insiders sold $52.8 million of stock over the past 90 days.

Vicor Corporation (NASDAQ:VICR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $197.91, but opened at $182.24. Vicor shares last traded at $185.1010, with a volume of 103,605 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Craig Hallum increased their price target on shares of Vicor to $450.00 and gave the stock 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 report on Thursday, July 2nd. Weiss Ratings upgraded shares of Vicor from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 3rd. Needham & Company LLC reduced their target price 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. Finally, Roth Capital raised their target price on shares of Vicor from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Vicor currently has an average rating of "Moderate Buy" and a consensus target price of $381.67.

Vicor Stock Down 7.1%

The stock has a market cap of $8.48 billion, a PE ratio of 58.86 and a beta of 2.35. The business has a 50 day moving average price of $217.12 and a 200 day moving average price of $236.89.

Vicor (NASDAQ:VICR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share for the quarter, beating 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 company had revenue of $143.35 million during the quarter, compared to analysts' expectations of $138.37 million. During the same period last year, the business earned $0.91 earnings per share. Vicor's quarterly revenue was up 49.3% on a year-over-year basis. On average, research analysts predict that Vicor Corporation will post 3.28 earnings per share for the current fiscal year.

Insider Activity at Vicor

In related news, CEO Patrizio Vinciarelli sold 20,000 shares of the firm's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $323.05, for a total transaction of $6,461,000.00. Following the sale, the chief executive officer owned 8,428,090 shares in the company, valued at approximately $2,722,694,474.50. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Philip D. Davies sold 3,073 shares of Vicor stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $356.97, for a total transaction of $1,096,968.81. Following the completion of the transaction, the vice president directly owned 1,920 shares of the company's stock, valued at $685,382.40. The trade was a 61.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 157,536 shares of company stock valued at $52,821,338. Insiders own 28.30% of the company's stock.

Institutional Investors Weigh In On Vicor

A number of institutional investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new position in Vicor in the 4th quarter worth about $27,000. Harbour Investments Inc. acquired a new stake in Vicor in the fourth quarter valued at approximately $32,000. Allworth Financial LP increased its position in shares of Vicor by 960.0% in the fourth quarter. Allworth Financial LP now owns 318 shares of the electronics maker's stock valued at $35,000 after buying an additional 288 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vicor in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC raised its stake in shares of Vicor by 969.4% during the 4th quarter. Global Retirement Partners LLC now owns 385 shares of the electronics maker's stock worth $42,000 after buying an additional 349 shares during the period. 47.45% of the stock is currently owned by institutional investors and hedge funds.

Vicor Company Profile

Vicor Corporation NASDAQ: VICR designs, manufactures and markets modular power components and power systems. The company's products are used to convert, regulate and distribute electrical power in electronic systems, with an emphasis on high-density, efficient and scalable power-conversion technology.

Its portfolio includes AC-to-DC and DC-to-DC power modules, bus converters, point-of-load regulators, power accessories and complete power systems. Vicor's Factorized Power Architecture separates power conversion, transformation and regulation functions to help customers address power-density, thermal-management and system-design requirements.

Vicor serves customers in markets including data centers and communications infrastructure, automotive and transportation, aerospace and defense, industrial equipment, and other high-performance electronics applications.

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.