Vicor (NASDAQ:VICR) Releases Quarterly Earnings Results, Beats Expectations By $0.42 EPS

Key Points

• Vicor beat quarterly earnings expectations, reporting $1.04 EPS versus the $0.62 consensus estimate. That was also up from $0.91 EPS in the same quarter last year.
• The company posted strong profitability metrics, with a net margin of 28.98% and return on equity of 20.21%. Despite the earnings beat, the stock was down 2.8% in Tuesday trading.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and an average price target of $408.33. Recent insider activity showed shares were sold by both a director and the CFO, and insiders sold 392,682 shares over the last 90 days.

Vicor (NASDAQ:VICR - Get Free Report) released its earnings results on Tuesday. The electronics maker reported $1.04 EPS for the quarter, topping the consensus estimate of $0.62 by $0.42, RTT News reports. Vicor had a net margin of 28.98% and a return on equity of 20.21%. During the same period in the prior year, the firm earned $0.91 EPS.

Vicor Stock Down 2.8%

VICR stock opened at $230.99 on Tuesday. Vicor has a 52 week low of $41.76 and a 52 week high of $382.65. The company has a fifty day simple moving average of $297.90 and a two-hundred day simple moving average of $221.96. The firm has a market capitalization of $10.53 billion, a P/E ratio of 77.25 and a beta of 2.33.

Insider Buying and Selling

In other Vicor news, Director Andrew D'amico sold 331 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $319.53, for a total transaction of $105,764.43. Following the sale, the director directly owned 200 shares in the company, valued at $63,906. This represents a 62.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James F. Schmidt sold 1,000 shares of Vicor stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $331.68, for a total value of $331,680.00. Following the completion of the transaction, the chief financial officer owned 1,000 shares of the company's stock, valued at approximately $331,680. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 392,682 shares of company stock valued at $123,899,833. Insiders own 28.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VICR. Federated Hermes Inc. bought a new stake in shares of Vicor in the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Vicor in the 4th quarter worth about $36,000. Global Retirement Partners LLC lifted its stake in Vicor by 969.4% in the fourth quarter. Global Retirement Partners LLC now owns 385 shares of the electronics maker's stock worth $42,000 after purchasing an additional 349 shares during the last quarter. Empowered Funds LLC bought a new stake in Vicor in the fourth quarter worth about $81,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Vicor by 13.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the electronics maker's stock valued at $56,000 after buying an additional 136 shares during the period. Institutional investors own 47.45% of the company's stock.

Wall Street Analyst Weigh In

VICR has been the topic of a number of research reports. Needham & Company LLC lifted their price target on shares of Vicor to $400.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Vicor in a report on Monday, June 1st. Craig Hallum lifted their target price on Vicor to $450.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Wall Street Zen cut Vicor from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Roth Capital increased their price target on Vicor from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Vicor has a consensus rating of "Moderate Buy" and an average price target of $408.33.

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.