Vicor (NASDAQ:VICR) Shares Gap Up After Strong Earnings

Vicor Co. (NASDAQ:VICR) shares gapped up before the market opened on Wednesday following a better than expected earnings announcement. 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 changing hands.

The electronics maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.13 by $0.13. Vicor had a net margin of 7.20% and a return on equity of 4.98%. The firm had revenue of $93.17 million during the quarter, compared to analysts’ expectations of $85.23 million. During the same period last year, the company posted $0.37 EPS. The company’s quarterly revenue was down 13.6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, VP Philip D. Davies sold 23,494 shares of Vicor stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.83, for a total transaction of $841,790.02. Following the transaction, the vice president now directly owns 15,763 shares of the company’s stock, valued at $564,788.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 31.00% of the company’s stock.

Institutional Investors Weigh In On Vicor

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Vicor by 37.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,111 shares of the electronics maker’s stock valued at $50,000 after acquiring an additional 303 shares in the last quarter. The Manufacturers Life Insurance Company lifted 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 valued at $399,000 after buying an additional 552 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Vicor by 98.8% in the second quarter. Headlands Technologies LLC now owns 1,147 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 570 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 last quarter. Finally, Victory Capital Management Inc. boosted its position in Vicor by 10.5% during the second quarter. Victory Capital Management Inc. now owns 8,482 shares of the electronics maker’s stock worth $281,000 after acquiring an additional 808 shares during the last quarter. Institutional investors and hedge funds own 47.45% of the company’s stock.

Vicor Price Performance

The firm has a fifty day moving average of $38.92 and a 200 day moving average of $36.45. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 83.90 and a beta of 1.51.

About Vicor

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.