Vicor's (VICR) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Vicor (NASDAQ:VICR - Free Report) in a research report report published on Wednesday morning,Benzinga reports.

Vicor Price Performance

VICR traded down $0.74 during trading on Wednesday, hitting $46.41. The company had a trading volume of 420,538 shares, compared to its average volume of 378,550. The company has a market cap of $2.10 billion, a PE ratio of 31.79 and a beta of 1.75. The business has a 50-day moving average of $45.19 and a 200-day moving average of $48.39. Vicor has a 1-year low of $34.27 and a 1-year high of $65.70.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.73. The firm had revenue of $141.05 million for the quarter, compared to analysts' expectations of $96.43 million. Vicor had a net margin of 15.44% and a return on equity of 11.32%. The firm's quarterly revenue was up 64.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share.

Insiders Place Their Bets

In other Vicor news, Director Andrew D'amico sold 5,813 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $63.00, for a total transaction of $366,219.00. Following the transaction, the director owned 1,217 shares in the company, valued at $76,671. This trade represents a 82.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 31.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 598,896 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Vicor in the 4th quarter valued at approximately $17,787,000. Millennium Management LLC lifted its stake in Vicor by 4,634.5% in the 1st 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 in the last quarter. Ashford Capital Management Inc. lifted its stake in Vicor by 885.7% in the 1st 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 in the last quarter. Finally, Colrain Capital LLC bought a new stake in shares of Vicor during the 4th quarter worth approximately $9,181,000. 47.45% of the stock is owned by institutional investors.

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.