Vicor (NASDAQ:VICR) Shares Gap Down After Insider Selling

Key Points

• Vicor shares gapped down before Friday’s open after insider selling, opening at $266.66 versus a previous close of $290.54 and last trading around $272.18, down 4.8% on the day.
• Two executives sold stock: Director Andrew D’amico sold a total of 1,765 shares across two transactions, and VP Alvaro Doyle sold 4,041 shares, sharply reducing their holdings.
• Despite the selloff, analysts remain mostly positive, with a consensus “Buy” rating and an average price target of $198.33; the company also recently beat quarterly earnings and revenue estimates.

Shares of Vicor Corporation (NASDAQ:VICR - Get Free Report) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $290.54, but opened at $266.66. Vicor shares last traded at $272.1840, with a volume of 177,547 shares changing hands.

Specifically, Director Andrew D'amico sold 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $312.31, for a total transaction of $374,772.00. Following the sale, the director owned 1,200 shares of the company's stock, valued at approximately $374,772. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alvaro Doyle sold 4,041 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $286.91, for a total transaction of $1,159,403.31. Following the completion of the transaction, the vice president owned 42 shares of the company's stock, valued at approximately $12,050.22. The trade was a 98.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In related news, Director Andrew D'amico sold 565 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $303.03, for a total value of $171,211.95. Following the transaction, the director directly owned 565 shares of the company's stock, valued at $171,211.95. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

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

Vicor Stock Down 4.8%

The stock has a market capitalization of $12.60 billion, a PE ratio of 93.04 and a beta of 2.33. The firm's fifty day moving average is $208.09 and its 200-day moving average is $154.73.

Vicor (NASDAQ:VICR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The electronics maker reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. The company had revenue of $112.97 million for 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 quarter in the previous year, the company earned $0.06 EPS. On average, analysts expect that Vicor Corporation will post 2.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VICR. Royal Bank of Canada lifted its holdings in Vicor by 6.0% in the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Vicor by 4.3% in 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 purchasing an additional 563 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Vicor by 4,634.5% in the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock valued at $12,379,000 after purchasing an additional 259,022 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Vicor by 38.4% in the first 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 purchasing an additional 11,525 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Vicor by 56.1% during the first quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker's stock worth $413,000 after buying 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.

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.