Vicor (NASDAQ:VICR) Price Target Cut to $35.00

Vicor (NASDAQ:VICR) had its target price reduced by Craig Hallum from $40.00 to $35.00 in a report released on Wednesday, Benzinga reports. Craig Hallum currently has a hold rating on the electronics maker’s stock.

A number of other brokerages have also recently commented on VICR. Needham & Company LLC restated a hold rating on shares of Vicor in a report on Wednesday. StockNews.com upgraded shares of Vicor from a sell rating to a hold rating in a report on Saturday, April 20th.

Vicor Trading Up 2.8 %

Shares of VICR stock opened at $34.41 on Wednesday. Vicor has a twelve month low of $30.90 and a twelve month high of $98.38. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 34.41 and a beta of 1.53. The company’s 50-day moving average price is $37.40 and its 200-day moving average price is $39.97.

Vicor (NASDAQ:VICR) last announced its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). Vicor had a net margin of 11.49% and a return on equity of 8.48%. The business had revenue of $83.80 million during the quarter, compared to analyst estimates of $84.83 million. During the same period last year, the company earned $0.25 EPS. The business’s revenue for the quarter was down 14.3% on a year-over-year basis.

Insider Buying and Selling

In related news, VP Kemble D. Morrison sold 2,659 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $37.00, for a total transaction of $98,383.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kemble D. Morrison sold 2,659 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $37.00, for a total transaction of $98,383.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Gendron sold 2,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $36.83, for a total value of $73,660.00. Following the sale, the vice president now directly owns 5,374 shares in the company, valued at approximately $197,924.42. The disclosure for this sale can be found here. Insiders sold a total of 4,999 shares of company stock valued at $184,990 over the last three months. 31.30% of the stock is currently owned by company insiders.

Institutional Trading of Vicor

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Vicor by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 2,477,438 shares of the electronics maker’s stock worth $111,336,000 after purchasing an additional 285,699 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Vicor by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 469,026 shares of the electronics maker’s stock worth $21,079,000 after buying an additional 12,013 shares during the period. Eagle Asset Management Inc. acquired a new stake in Vicor in the 3rd quarter worth about $12,335,000. AWM Investment Company Inc. grew its holdings in Vicor by 54.8% in the 3rd quarter. AWM Investment Company Inc. now owns 204,960 shares of the electronics maker’s stock valued at $12,070,000 after buying an additional 72,526 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Vicor by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 181,682 shares of the electronics maker’s stock valued at $8,165,000 after acquiring an additional 9,297 shares during the last quarter. Institutional investors and hedge funds own 47.45% of the company’s stock.

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.