Vicor (NASDAQ:VICR) Shares Down 8.1% After Insider Selling

Vicor Corporation (NASDAQ:VICR)’s share price traded down 8.1% during trading on Friday following insider selling activity. The stock traded as low as $177.23 and last traded at $174.79. 302,359 shares were traded during trading, a decline of 59% from the average session volume of 732,031 shares. The stock had previously closed at $190.13.

Specifically, CEO Patrizio Vinciarelli sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $196.18, for a total value of $9,809,000.00. Following the completion of the transaction, the chief executive officer owned 9,108,163 shares in the company, valued at $1,786,839,417.34. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Mcnamara sold 7,174 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $190.07, for a total transaction of $1,363,562.18. Following the sale, the insider directly owned 18,138 shares of the company’s stock, valued at $3,447,489.66. This represents a 28.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In related news, CEO Patrizio Vinciarelli sold 50,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $184.67, for a total transaction of $9,233,500.00. Following the sale, the chief executive officer directly owned 9,258,163 shares in the company, valued at $1,709,704,961.21. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VICR shares. Roth Mkm reaffirmed a “buy” rating and issued a $175.00 target price on shares of Vicor in a research note on Thursday, January 22nd. Wall Street Zen cut Vicor from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Vicor in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded Vicor from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $118.33.

Vicor Stock Down 13.5%

The company has a 50 day moving average price of $168.52 and a 200-day moving average price of $111.53. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 63.04 and a beta of 1.84.

Vicor (NASDAQ:VICR) last posted its earnings results on Thursday, February 19th. The electronics maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.63. Vicor had a net margin of 26.19% and a return on equity of 18.73%. The firm had revenue of $362.70 million for the quarter, compared to analyst estimates of $107.78 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Hedge Funds Weigh In On Vicor

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Vicor by 6.0% in the first quarter. Royal Bank of Canada now owns 15,167 shares of the electronics maker’s stock valued at $709,000 after purchasing an additional 857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Vicor by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,537 shares of the electronics maker’s stock worth $633,000 after buying an additional 563 shares during the period. Millennium Management LLC grew its position in shares of Vicor by 4,634.5% in the 1st quarter. Millennium Management LLC now owns 264,611 shares of the electronics maker’s stock valued at $12,379,000 after buying an additional 259,022 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Vicor by 38.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,541 shares of the electronics maker’s stock valued at $1,943,000 after buying an additional 11,525 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Vicor by 56.1% in the first quarter. Acadian Asset Management LLC now owns 8,860 shares of the electronics maker’s stock valued at $413,000 after buying an additional 3,184 shares during the period. Institutional investors and hedge funds own 47.45% of the company’s stock.

About Vicor

Vicor Corporation is a designer and manufacturer of modular power components and systems, serving a wide range of industries that demand high performance and efficiency. Headquartered in Andover, Massachusetts, the company develops power conversion solutions that help customers optimize energy delivery in applications from telecommunications and data centers to industrial and automotive systems.

The company’s product portfolio includes high-density DC-DC converters, AC-DC front-end modules, point-of-load regulators and complete power systems that combine multiple conversion stages in a single package.