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

Vicor Co. (NASDAQ:VICR)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $43.44, but opened at $47.84. Vicor shares last traded at $49.15, with a volume of 187,169 shares.

The electronics maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.13. Vicor had a return on equity of 4.03% and a net margin of 6.08%. The business had revenue of $93.17 million during the quarter, compared to analyst estimates of $85.23 million. During the same period in the prior year, the company posted $0.37 earnings per share. Vicor’s revenue was down 13.6% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VICR shares. Needham & Company LLC reissued a “hold” rating on shares of Vicor in a report on Wednesday. Craig Hallum increased their price objective on Vicor from $35.00 to $43.00 and gave the stock a “hold” rating in a research note on Wednesday.

Insider Transactions at Vicor

In related news, VP Philip D. Davies sold 23,494 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.83, for a total value of $841,790.02. Following the transaction, the vice president now owns 15,763 shares in the company, valued at $564,788.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vicor

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Vicor by 37.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,111 shares of the electronics maker’s stock valued at $50,000 after buying an additional 303 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Vicor by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,021 shares of the electronics maker’s stock worth $399,000 after purchasing an additional 552 shares during the period. Headlands Technologies LLC increased its holdings in Vicor by 98.8% during the 2nd quarter. Headlands Technologies LLC now owns 1,147 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 570 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Vicor by 202.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,001 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 670 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Vicor by 10.5% in the second quarter. Victory Capital Management Inc. now owns 8,482 shares of the electronics maker’s stock valued at $281,000 after purchasing an additional 808 shares in the last quarter. 47.45% of the stock is owned by institutional investors and hedge funds.

Vicor Price Performance

The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 46.41 and a beta of 1.51. The firm has a 50-day moving average price of $39.19 and a two-hundred day moving average price of $36.54.

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.