The Manufacturers Life Insurance Company Cuts Stock Holdings in Vicor Corporation $VICR

The Manufacturers Life Insurance Company lowered its holdings in Vicor Corporation (NASDAQ:VICR) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 530,885 shares of the electronics maker’s stock after selling 72,479 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.15% of Vicor worth $201,620,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Jones Financial Companies Lllp boosted its stake in shares of Vicor by 59.1% during the second quarter. Jones Financial Companies Lllp now owns 5,419 shares of the electronics maker’s stock valued at $2,058,000 after purchasing an additional 2,012 shares in the last quarter. Algert Global LLC raised its stake in Vicor by 100.8% in the second quarter. Algert Global LLC now owns 44,930 shares of the electronics maker’s stock worth $17,064,000 after buying an additional 22,559 shares in the last quarter. Maxi Investments CY Ltd bought a new position in Vicor in the second quarter worth approximately $2,089,000. Sanctuary Advisors LLC purchased a new stake in Vicor during the second quarter worth $278,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Vicor by 138.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,342 shares of the electronics maker’s stock worth $1,269,000 after buying an additional 1,941 shares during the period. Hedge funds and other institutional investors own 47.45% of the company’s stock.

Analyst Upgrades and Downgrades

VICR has been the topic of a number of analyst reports. Roth Capital lifted their price target on Vicor from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Zacks Research lowered Vicor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Craig Hallum upped their price objective on Vicor to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Weiss Ratings downgraded Vicor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Needham & Company LLC cut their target price on Vicor from $400.00 to $320.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Vicor currently has a consensus rating of “Moderate Buy” and an average target price of $381.67.

Vicor Stock Down 5.3%

Shares of VICR opened at $189.99 on Tuesday. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 60.89 and a beta of 2.37. Vicor Corporation has a twelve month low of $47.56 and a twelve month high of $382.65. The company has a 50 day moving average of $257.44 and a two-hundred day moving average of $233.95.

Vicor (NASDAQ:VICR) last released its quarterly earnings results on Tuesday, July 21st. The electronics maker reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.39. Vicor had a net margin of 30.65% and a return on equity of 19.83%. The business had revenue of $143.35 million for the quarter, compared to analyst estimates of $138.37 million. During the same period in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 49.3% on a year-over-year basis. On average, sell-side analysts expect that Vicor Corporation will post 3.12 EPS for the current year.

Insiders Place Their Bets

In related news, VP Philip D. Davies sold 3,072 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $211.69, for a total transaction of $650,311.68. Following the transaction, the vice president directly owned 1,920 shares in the company, valued at $406,444.80. The trade was a 61.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Zmira Lavie sold 908 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $250.00, for a total value of $227,000.00. Following the transaction, the director directly owned 908 shares in the company, valued at $227,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 306,088 shares of company stock worth $99,007,022 over the last quarter. Company insiders own 28.30% of the company’s stock.

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.