Needham & Company LLC Reaffirms Hold Rating for Vicor (NASDAQ:VICR)

Vicor (NASDAQ:VICR)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports.

Vicor Price Performance

Shares of VICR opened at $43.44 on Wednesday. The firm’s 50 day moving average is $38.92 and its 200-day moving average is $36.45. The stock has a market capitalization of $1.96 billion, a P/E ratio of 73.63 and a beta of 1.51. Vicor has a 12-month low of $30.90 and a 12-month high of $54.19.

Vicor (NASDAQ:VICR) last announced its quarterly earnings data on Tuesday, October 22nd. The electronics maker reported $0.26 earnings per share (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 company had revenue of $93.17 million for the quarter, compared to analysts’ expectations of $85.23 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue was down 13.6% compared to the same quarter last year.

Insiders Place Their Bets

In related news, VP Philip D. Davies sold 23,494 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was 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 approximately $564,788.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.00% of the company’s stock.

Hedge Funds Weigh In On Vicor

Several institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Vicor by 37.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,111 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 303 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Vicor by 4.8% during 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 during the period. Headlands Technologies LLC grew its holdings in shares of Vicor by 98.8% during the 2nd quarter. Headlands Technologies LLC now owns 1,147 shares of the electronics maker’s stock valued at $38,000 after acquiring an additional 570 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Vicor by 202.4% in the third quarter. GAMMA Investing LLC now owns 1,001 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 670 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 47.45% of the company’s stock.

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.