State of Alaska Department of Revenue decreased its stake in Vicor Co. (NASDAQ:VICR – Free Report) by 9.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,777 shares of the electronics maker’s stock after selling 293 shares during the quarter. State of Alaska Department of Revenue’s holdings in Vicor were worth $149,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Brown Capital Management LLC raised its position in shares of Vicor by 178.0% during the 1st quarter. Brown Capital Management LLC now owns 1,936,242 shares of the electronics maker’s stock valued at $90,887,000 after buying an additional 1,239,760 shares during the period. Capital International Investors boosted its position in shares of Vicor by 355.6% during the 1st quarter. Capital International Investors now owns 1,251,736 shares of the electronics maker’s stock worth $88,310,000 after purchasing an additional 976,973 shares during the period. Wellington Management Group LLP increased its holdings in Vicor by 298.3% in the 1st quarter. Wellington Management Group LLP now owns 821,601 shares of the electronics maker’s stock valued at $38,566,000 after purchasing an additional 615,306 shares during the last quarter. Capital Research Global Investors raised its position in Vicor by 53.1% in the first quarter. Capital Research Global Investors now owns 1,625,517 shares of the electronics maker’s stock valued at $114,680,000 after purchasing an additional 563,884 shares during the period. Finally, Norges Bank acquired a new position in Vicor during the fourth quarter worth $9,680,000. 47.45% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently issued reports on VICR. Needham & Company LLC increased their target price on Vicor from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Craig Hallum raised shares of Vicor from a “hold” rating to a “buy” rating and upped their target price for the stock from $60.00 to $80.00 in a research note on Wednesday, July 26th. StockNews.com began coverage on shares of Vicor in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, 22nd Century Group reissued a “maintains” rating on shares of Vicor in a research note on Monday, June 26th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.67.
Insiders Place Their Bets
In other news, Director Andrew D’amico sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Andrew D’amico sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Claudio Tuozzolo sold 3,675 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $96.80, for a total value of $355,740.00. Following the completion of the transaction, the vice president now directly owns 41,282 shares in the company, valued at $3,996,097.60. The disclosure for this sale can be found here. Insiders sold 5,700 shares of company stock worth $527,949 over the last three months. 31.30% of the stock is owned by insiders.
Vicor Stock Performance
Shares of VICR opened at $53.21 on Tuesday. Vicor Co. has a fifty-two week low of $38.71 and a fifty-two week high of $98.38. The stock has a fifty day moving average of $61.41 and a two-hundred day moving average of $57.92. The company has a market capitalization of $2.36 billion, a PE ratio of 53.75 and a beta of 1.39.
Vicor (NASDAQ:VICR – Get Free Report) last issued its earnings results on Tuesday, July 25th. The electronics maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.15. Vicor had a return on equity of 9.37% and a net margin of 10.77%. The business had revenue of $106.70 million for the quarter, compared to analyst estimates of $97.97 million. During the same period last year, the company posted $0.24 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis.
Vicor 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 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.
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