Vicor’s (VICR) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Vicor (NASDAQ:VICR) in a report issued on Wednesday,Benzinga reports.

Vicor Stock Performance

VICR stock opened at $46.41 on Wednesday. The stock has a market cap of $2.10 billion, a P/E ratio of 31.79 and a beta of 1.75. The firm has a 50 day simple moving average of $45.19 and a 200 day simple moving average of $48.39. Vicor has a 52 week low of $34.27 and a 52 week high of $65.70.

Vicor (NASDAQ:VICR) last posted its quarterly earnings results on Tuesday, July 22nd. The electronics maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.18 by $0.73. The business had revenue of $141.05 million during the quarter, compared to analysts’ expectations of $96.43 million. Vicor had a net margin of 15.44% and a return on equity of 11.32%. The firm’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share.

Insider Activity at Vicor

In related news, Director Andrew D’amico sold 5,813 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $63.00, for a total transaction of $366,219.00. Following the transaction, the director owned 1,217 shares of the company’s stock, valued at approximately $76,671. This trade represents a 82.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.30% of the company’s stock.

Hedge Funds Weigh In On Vicor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in Vicor by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 13,745 shares of the electronics maker’s stock valued at $623,000 after acquiring an additional 977 shares in the last quarter. Chapin Davis Inc. raised its position in Vicor by 23.0% during the second quarter. Chapin Davis Inc. now owns 44,900 shares of the electronics maker’s stock valued at $2,037,000 after acquiring an additional 8,400 shares in the last quarter. Cullen Investment Group LTD. bought a new position in Vicor during the second quarter valued at approximately $202,000. Voya Investment Management LLC raised its position in Vicor by 22.5% during the first quarter. Voya Investment Management LLC now owns 14,655 shares of the electronics maker’s stock valued at $686,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Strs Ohio bought a new position in Vicor during the first quarter valued at approximately $56,000. 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.