Zacks Investment Research upgraded shares of Vicor (NASDAQ:VICR) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $88.00 price target on the electronics maker’s stock.
According to Zacks, “Vicor Corporation designs, manufactures and markets innovative, high performance modular power components, from bricks to semiconductor-centric solutions, to enable customers to efficiently convert and manage power from the wall plug to the point-of-load. Vicor offers comprehensive product lines addressing a broad range of power conversion and management requirements across all power distribution architectures, including CPA, DPA, IBA, FPA and CBA. Vicor focuses on solutions for performance-critical applications in the following markets: enterprise and high performance computing, telecommunications and network infrastructure, industrial equipment and automation, vehicles and transportation and aerospace and defense electronics. Vicor’s holistic approach gives power system architects the flexibility to choose from modular, plug-and-play components ranging from bricks to semiconductor-centric solutions. “
A number of other analysts also recently issued reports on the company. Northland Securities reaffirmed a hold rating and issued a $55.00 target price on shares of Vicor in a research note on Friday, July 24th. BidaskClub downgraded Vicor from a strong-buy rating to a buy rating in a research note on Friday, July 24th. Craig Hallum raised their target price on Vicor from $65.00 to $85.00 and gave the stock a buy rating in a research note on Wednesday, June 17th. BWS Financial raised their target price on Vicor from $84.00 to $100.00 and gave the stock a buy rating in a research note on Friday, July 24th. Finally, Needham & Company LLC raised their target price on Vicor from $80.00 to $85.00 and gave the stock a buy rating in a research note on Friday, July 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $82.60.
Shares of VICR stock opened at $81.47 on Wednesday. The stock’s fifty day moving average is $72.94 and its two-hundred day moving average is $55.41. The firm has a market capitalization of $3.53 billion, a P/E ratio of 428.81 and a beta of 0.74. Vicor has a fifty-two week low of $26.50 and a fifty-two week high of $83.09.
Vicor (NASDAQ:VICR) last announced its quarterly earnings data on Thursday, July 23rd. The electronics maker reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $70.76 million for the quarter, compared to analyst estimates of $65.80 million. Vicor had a return on equity of 3.47% and a net margin of 3.05%. As a group, equities research analysts predict that Vicor will post 0.25 earnings per share for the current year.
In related news, CAO Richard J. Nagel, Jr. sold 1,354 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $50.90, for a total transaction of $68,918.60. Following the completion of the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $50,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Gendron sold 1,527 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $60.00, for a total value of $91,620.00. Following the sale, the vice president now directly owns 10,517 shares of the company’s stock, valued at $631,020. The disclosure for this sale can be found here. Insiders have sold a total of 68,146 shares of company stock valued at $4,032,442 over the last three months. Corporate insiders own 36.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Optimum Investment Advisors purchased a new position in shares of Vicor in the 2nd quarter valued at about $36,000. PNC Financial Services Group Inc. boosted its position in Vicor by 34.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,194 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 303 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vicor by 53.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,286 shares of the electronics maker’s stock valued at $57,000 after purchasing an additional 447 shares during the last quarter. Advisor Group Inc. acquired a new position in Vicor in the fourth quarter valued at $75,000. Finally, First Mercantile Trust Co. increased its stake in Vicor by 20.2% in the first quarter. First Mercantile Trust Co. now owns 2,428 shares of the electronics maker’s stock valued at $108,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 31.06% of the company’s stock.
Vicor Company Profile
Vicor Corporation designs, develops, manufactures, and markets modular power components and power systems for converting electrical power worldwide. It operates through Brick Business Unit, VI Chip, and Picor segments. The company offers a range of brick-format DC-DC converters and configurable products; complementary components; and input and output voltage, and output power products, as well as electrical and mechanical accessories.
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