Vicor (NASDAQ:VICR) Trading Down 9.4% After Insider Selling

Vicor Corporation (NASDAQ:VICR) was down 9.4% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $322.53 and last traded at $317.2060. 201,967 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 839,484 shares. The stock had previously closed at $350.21.

Specifically, CEO Patrizio Vinciarelli sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $375.04, for a total value of $7,500,800.00. Following the sale, the chief executive officer directly owned 8,388,090 shares of the company’s stock, valued at approximately $3,145,869,273.60. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrizio Vinciarelli sold 11,240 shares of Vicor stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $345.04, for a total value of $3,878,249.60. Following the transaction, the chief executive officer owned 8,416,850 shares of the company’s stock, valued at $2,904,149,924. The trade was a 0.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In other Vicor news, CEO Patrizio Vinciarelli sold 8,760 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $366.98, for a total value of $3,214,744.80. Following the sale, the chief executive officer owned 8,408,090 shares in the company, valued at $3,085,600,868.20. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Craig Hallum lifted their target price on Vicor to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vicor in a report on Monday, June 1st. Needham & Company LLC upped their price objective on shares of Vicor to $400.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Roth Mkm increased their price objective on shares of Vicor from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen cut shares of Vicor from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. One investment 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. Based on data from MarketBeat, Vicor currently has an average rating of “Buy” and an average target price of $408.33.

Vicor Stock Performance

The company has a fifty day moving average of $299.26 and a two-hundred day moving average of $207.61. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 104.72 and a beta of 2.32.

Vicor (NASDAQ:VICR) last issued its quarterly earnings data on Tuesday, April 21st. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm 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 company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts forecast that Vicor Corporation will post 2.94 EPS for the current year.

Hedge Funds Weigh In On Vicor

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its position in Vicor by 3,918.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 432,189 shares of the electronics maker’s stock worth $47,368,000 after acquiring an additional 421,435 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Vicor by 1,542.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 439,820 shares of the electronics maker’s stock worth $48,205,000 after purchasing an additional 413,038 shares in the last quarter. Millennium Management LLC grew its position 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Vicor by 1,921.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 267,882 shares of the electronics maker’s stock worth $13,319,000 after purchasing an additional 254,630 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Vicor during the third quarter worth approximately $12,625,000. 47.45% of the stock is currently owned by institutional investors and hedge funds.

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.