Vicor (NASDAQ:VICR) Shares Gap Up Following Strong Earnings

Vicor Corporation (NASDAQ:VICR - Get Free Report)'s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $45.20, but opened at $62.65. Vicor shares last traded at $55.43, with a volume of 745,172 shares changing hands.

The electronics maker reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.73. Vicor had a net margin of 15.44% and a return on equity of 11.32%. The business had revenue of $141.05 million during the quarter, compared to the consensus estimate of $96.43 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's revenue for the quarter was up 64.3% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Vicor in a research report on Wednesday. Wall Street Zen upgraded shares of Vicor from a "hold" rating to a "buy" rating in a report on Saturday.

Insider Activity at Vicor

In other Vicor news, Director Andrew D'amico sold 5,813 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $63.00, for a total value of $366,219.00. Following the transaction, the director owned 1,217 shares in the company, valued at approximately $76,671. This represents a 82.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VICR. JPMorgan Chase & Co. increased its stake in Vicor by 15.6% in the 1st quarter. JPMorgan Chase & Co. now owns 4,446,226 shares of the electronics maker's stock valued at $207,994,000 after buying an additional 598,896 shares during the period. Summit Partners Public Asset Management LLC acquired a new position in Vicor in the 4th quarter valued at approximately $17,787,000. Millennium Management LLC increased its stake 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 worth $12,379,000 after purchasing an additional 259,022 shares during the last quarter. Ashford Capital Management Inc. increased its stake in shares of Vicor by 885.7% during the 1st quarter. Ashford Capital Management Inc. now owns 238,045 shares of the electronics maker's stock worth $11,136,000 after purchasing an additional 213,895 shares during the last quarter. Finally, Colrain Capital LLC acquired a new position in shares of Vicor during the 4th quarter worth $9,181,000. Institutional investors and hedge funds own 47.45% of the company's stock.

Vicor Stock Performance

The company's 50 day moving average price is $45.19 and its 200 day moving average price is $48.39. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 31.79 and a beta of 1.75.

Vicor Company Profile

Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as electrical and mechanical accessories.