Vicor (NASDAQ:VICR) Sets New 52-Week High Following Analyst Upgrade

Vicor Corporation (NASDAQ:VICR)’s share price hit a new 52-week high during trading on Monday after Craig Hallum raised their price target on the stock to $450.00. Craig Hallum currently has a buy rating on the stock. Vicor traded as high as $365.00 and last traded at $361.70, with a volume of 124314 shares traded. The stock had previously closed at $331.37.

VICR has been the topic of several other research reports. Roth Mkm reiterated a “buy” rating and set a $375.00 price target (up from $285.00) on shares of Vicor in a report on Monday. Wall Street Zen cut shares of Vicor from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vicor in a research note on Monday, June 1st. Zacks Research raised shares of Vicor from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Needham & Company LLC raised their price target on shares of Vicor to $400.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $408.33.

Insider Buying and Selling

In other Vicor news, CEO Patrizio Vinciarelli sold 50,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $193.21, for a total transaction of $9,660,500.00. Following the completion of the transaction, the chief executive officer owned 8,895,090 shares of the company’s stock, valued at $1,718,620,338.90. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 470,099 shares of company stock valued at $118,433,183 over the last 90 days. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On Vicor

Several large investors have recently made changes to their positions in VICR. Dynamic Technology Lab Private Ltd purchased a new stake in Vicor during the 3rd quarter worth approximately $352,000. Intech Investment Management LLC boosted its position in Vicor by 36.6% in the 3rd quarter. Intech Investment Management LLC now owns 29,786 shares of the electronics maker’s stock valued at $1,481,000 after buying an additional 7,985 shares during the period. Range Financial Group LLC acquired a new position in shares of Vicor in the fourth quarter worth $1,537,000. Convergence Investment Partners LLC acquired a new position in shares of Vicor in the fourth quarter worth $1,631,000. Finally, Chicago Capital LLC purchased a new stake in shares of Vicor during the fourth quarter worth $771,000. 47.45% of the stock is currently owned by institutional investors and hedge funds.

Vicor Stock Up 8.6%

The firm has a market cap of $16.40 billion, a PE ratio of 120.30 and a beta of 2.36. The business has a 50-day moving average price of $275.42 and a two-hundred day moving average price of $193.50.

Vicor (NASDAQ:VICR) last released its earnings results on Tuesday, April 21st. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $112.97 million during 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%.Vicor’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. On average, equities research analysts predict that Vicor Corporation will post 2.71 earnings per share for the current fiscal year.

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.