Needham & Company LLC Reiterates “Hold” Rating for Vicor (NASDAQ:VICR)

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

Several other brokerages have also commented on VICR. StockNews.com upgraded Vicor from a “sell” rating to a “hold” rating in a research report on Saturday. Craig Hallum lowered Vicor from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research report on Friday, February 23rd.

Vicor Stock Performance

VICR stock opened at $35.18 on Wednesday. Vicor has a 1 year low of $33.70 and a 1 year high of $98.38. The firm has a market cap of $1.56 billion, a P/E ratio of 29.56 and a beta of 1.53. The stock has a 50-day simple moving average of $38.12 and a 200-day simple moving average of $40.36.

Vicor (NASDAQ:VICR) last posted its earnings results on Thursday, February 22nd. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.17). Vicor had a net margin of 13.23% and a return on equity of 10.45%. The company had revenue of $92.70 million during the quarter, compared to analyst estimates of $107.07 million. During the same quarter last year, the business posted $0.18 EPS. Vicor’s quarterly revenue was down 12.1% compared to the same quarter last year.

Insider Buying and Selling

In related news, VP Kemble D. Morrison sold 2,659 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $37.00, for a total value of $98,383.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vicor news, VP Robert Gendron sold 2,000 shares of Vicor stock in a transaction on Friday, March 8th. The stock was sold at an average price of $36.83, for a total transaction of $73,660.00. Following the sale, the vice president now owns 5,374 shares of the company’s stock, valued at approximately $197,924.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kemble D. Morrison sold 2,659 shares of Vicor stock in a transaction on Monday, February 26th. The shares were sold at an average price of $37.00, for a total value of $98,383.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,999 shares of company stock valued at $184,990. Insiders own 31.30% of the company’s stock.

Hedge Funds Weigh In On Vicor

Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Vicor by 37.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,111 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 303 shares during the period. Swiss National Bank grew its holdings in shares of Vicor by 1.4% during the third quarter. Swiss National Bank now owns 50,032 shares of the electronics maker’s stock valued at $2,946,000 after buying an additional 700 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Vicor by 30.0% during the third quarter. Acadian Asset Management LLC now owns 3,056 shares of the electronics maker’s stock valued at $178,000 after buying an additional 706 shares in the last quarter. Bouvel Investment Partners LLC grew its holdings in shares of Vicor by 4.3% during the fourth quarter. Bouvel Investment Partners LLC now owns 17,022 shares of the electronics maker’s stock valued at $765,000 after buying an additional 708 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new position in shares of Vicor during the fourth quarter valued at $35,000. 47.45% of the stock is currently owned by institutional investors and hedge funds.

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.