Vicor (NASDAQ:VICR) CEO Sells $6,377,600.00 in Stock

Key Points

• Vicor CEO Patrizio Vinciarelli sold 20,000 shares on July 2 for about $6.38 million at an average price of $318.88, trimming his stake by 0.24% while still holding more than 8.3 million shares.
• The CEO has been actively selling shares throughout late June and early July, with multiple transactions totaling millions of dollars each, including sales at prices ranging from about $279.50 to $375.04 per share.
• Vicor’s stock has been strong but volatile, recently trading up to $286.93, while the company reported better-than-expected quarterly earnings and revenue; analysts currently rate the stock a consensus Buy with an average price target of $408.33.

Vicor Corporation (NASDAQ:VICR - Get Free Report) CEO Patrizio Vinciarelli sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $318.88, for a total value of $6,377,600.00. Following the completion of the sale, the chief executive officer owned 8,348,090 shares in the company, valued at approximately $2,662,038,939.20. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Patrizio Vinciarelli also recently made the following trade(s):

• On Tuesday, June 30th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The stock was sold at an average price of $375.04, for a total transaction of $7,500,800.00.
• On Monday, June 29th, Patrizio Vinciarelli sold 11,240 shares of Vicor stock. The stock was sold at an average price of $345.04, for a total value of $3,878,249.60.
• On Monday, June 29th, Patrizio Vinciarelli sold 8,760 shares of Vicor stock. The stock was sold at an average price of $366.98, for a total value of $3,214,744.80.
• On Friday, June 26th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The shares were sold at an average price of $323.05, for a total transaction of $6,461,000.00.
• On Wednesday, June 24th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The shares were sold at an average price of $326.44, for a total transaction of $6,528,800.00.
• On Monday, June 22nd, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The shares were sold at an average price of $360.94, for a total value of $7,218,800.00.
• On Wednesday, June 17th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The shares were sold at an average price of $329.57, for a total value of $6,591,400.00.
• On Monday, June 15th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The stock was sold at an average price of $318.65, for a total transaction of $6,373,000.00.
• On Friday, June 12th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The stock was sold at an average price of $304.87, for a total value of $6,097,400.00.
• On Wednesday, June 10th, Patrizio Vinciarelli sold 20,000 shares of Vicor stock. The stock was sold at an average price of $279.50, for a total value of $5,590,000.00.

Vicor Stock Performance

Shares of VICR stock traded up $3.98 on Monday, hitting $286.93. 380,414 shares of the stock traded hands, compared to its average volume of 843,589. Vicor Corporation has a twelve month low of $41.76 and a twelve month high of $382.65. The firm's 50-day moving average price is $300.36 and its two-hundred day moving average price is $210.23. The stock has a market capitalization of $13.08 billion, a PE ratio of 95.96 and a beta of 2.33.

Vicor (NASDAQ:VICR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The electronics maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The company had revenue of $112.97 million during the quarter, compared to analyst estimates of $109.05 million. Vicor had a return on equity of 20.21% and a net margin of 28.98%.The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. On average, equities research analysts anticipate that Vicor Corporation will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VICR. Roth Mkm raised their target price on shares of Vicor from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Wall Street Zen downgraded shares of Vicor from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Vicor in a report on Monday, June 1st. Needham & Company LLC lifted their price objective on shares of Vicor to $400.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Finally, Craig Hallum boosted their target price on shares of Vicor to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. One investment 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 stock. According to MarketBeat, Vicor presently has a consensus rating of "Buy" and an average price target of $408.33.

Hedge Funds Weigh In On Vicor

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in Vicor by 3,918.9% in the 4th 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. Price T Rowe Associates Inc. MD boosted its stake in shares of Vicor by 1,542.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 439,820 shares of the electronics maker's stock worth $48,205,000 after purchasing an additional 413,038 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Vicor by 4,634.5% during the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock worth $12,379,000 after buying an additional 259,022 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Vicor by 1,921.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 267,882 shares of the electronics maker's stock worth $13,319,000 after buying an additional 254,630 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Vicor in the third quarter valued at approximately $12,625,000. 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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