Vicor (NASDAQ:VICR) Shares Gap Up Following Better-Than-Expected Earnings

Key Points

• Vicor Corporation shares experienced a significant jump, opening at $79.73 after closing at $65.80, following better-than-expected earnings of $0.63 per share, surpassing analyst estimates of $0.20.
• The company's revenue for the quarter totaled $110.42 million, exceeding the consensus estimate of $95.40 million, marking an 18.5% year-over-year growth.
• Analysts have raised ratings for Vicor, with Needham & Company LLC and Craig Hallum both setting a price target of $90.00, signaling positive market sentiments.

Shares of Vicor Corporation (NASDAQ:VICR - Get Free Report) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $65.80, but opened at $79.73. Vicor shares last traded at $87.47, with a volume of 1,369,777 shares.

The electronics maker reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.43. Vicor had a return on equity of 11.32% and a net margin of 15.44%.The company had revenue of $110.42 million for the quarter, compared to the consensus estimate of $95.40 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company's revenue for the quarter was up 18.5% on a year-over-year basis.

Wall Street Analyst Weigh In

VICR has been the topic of a number of analyst reports. Needham & Company LLC set a $90.00 price target on Vicor in a research note on Wednesday. Craig Hallum raised Vicor from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Wednesday. Wall Street Zen upgraded Vicor from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Vicor in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $90.00.

Institutional Trading of Vicor

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Vicor by 15.6% in the first quarter. JPMorgan Chase & Co. now owns 4,446,226 shares of the electronics maker's stock worth $207,994,000 after purchasing an additional 598,896 shares in the last quarter. Millennium Management LLC boosted its holdings in Vicor by 4,634.5% during the first quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker's stock valued at $12,379,000 after acquiring an additional 259,022 shares during the period. Ashford Capital Management Inc. boosted its holdings in Vicor by 885.7% during the first quarter. Ashford Capital Management Inc. now owns 238,045 shares of the electronics maker's stock valued at $11,136,000 after acquiring an additional 213,895 shares during the period. Nuveen LLC bought a new stake in Vicor during the first quarter valued at about $8,024,000. Finally, Pinnacle Associates Ltd. boosted its holdings in Vicor by 29.0% during the first quarter. Pinnacle Associates Ltd. now owns 356,011 shares of the electronics maker's stock valued at $16,654,000 after acquiring an additional 80,105 shares during the period. 47.45% of the stock is owned by institutional investors and hedge funds.

Vicor Price Performance

The stock's fifty day simple moving average is $51.51 and its 200-day simple moving average is $47.45. The company has a market capitalization of $3.73 billion, a P/E ratio of 56.90 and a beta of 1.73.

About Vicor

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.

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