Vicor (NASDAQ:VICR) Stock Rating Reaffirmed by Needham & Company LLC

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

Several other research firms have also weighed in on VICR. StockNews.com upgraded shares of Vicor from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Craig Hallum decreased their price objective on Vicor from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th.

Vicor Price Performance

VICR stock opened at $38.43 on Wednesday. Vicor has a 1 year low of $30.90 and a 1 year high of $98.38. The firm has a market capitalization of $1.71 billion, a PE ratio of 38.43 and a beta of 1.50. The business has a 50 day simple moving average of $34.75 and a 200-day simple moving average of $36.50.

Vicor (NASDAQ:VICR) last issued its earnings results on Tuesday, July 23rd. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). Vicor had a return on equity of 4.99% and a net margin of 7.20%. The company had revenue of $85.90 million during the quarter, compared to analyst estimates of $81.77 million. During the same period last year, the business earned $0.38 earnings per share. The firm’s revenue was down 19.5% compared to the same quarter last year.

Insider Activity

In related news, VP Nancy L. Grava sold 1,277 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $33.91, for a total transaction of $43,303.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 2,150 shares of company stock valued at $72,275. Company insiders own 31.30% of the company’s stock.

Hedge Funds Weigh In On Vicor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC acquired a new stake in shares of Vicor during the fourth quarter worth about $35,000. PNC Financial Services Group Inc. grew its stake 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 worth $50,000 after acquiring an additional 303 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Vicor during the second quarter worth $115,000. New Mexico Educational Retirement Board acquired a new stake in shares of Vicor in the first quarter valued at $172,000. Finally, Truist Financial Corp boosted its holdings in Vicor by 35.7% in the fourth quarter. Truist Financial Corp now owns 5,000 shares of the electronics maker’s stock valued at $225,000 after purchasing an additional 1,315 shares during the period. 47.45% of the stock is currently owned by hedge funds and other institutional investors.

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.