Vicor (NASDAQ:VICR) Stock Price Down 5.8% – Here’s Why

Vicor Co. (NASDAQ:VICR) shares dropped 5.8% during mid-day trading on Thursday . The stock traded as low as $46.41 and last traded at $46.51. Approximately 106,068 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 222,180 shares. The stock had previously closed at $49.39.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Craig Hallum upped their price target on shares of Vicor from $35.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Vicor in a report on Wednesday.

Vicor Stock Performance

The stock has a fifty day moving average price of $39.51 and a 200-day moving average price of $36.67. The firm has a market cap of $2.06 billion, a PE ratio of 46.32 and a beta of 1.51.

Vicor (NASDAQ:VICR) last released its quarterly earnings data on Tuesday, October 22nd. The electronics maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.13. The company had revenue of $93.17 million during the quarter, compared to the consensus estimate of $85.23 million. Vicor had a net margin of 6.08% and a return on equity of 4.03%. Vicor’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share.

Insiders Place Their Bets

In related news, VP Philip D. Davies sold 23,494 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.83, for a total transaction of $841,790.02. Following the sale, the vice president now directly owns 15,763 shares in the company, valued at approximately $564,788.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vicor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Vicor during the third quarter valued at about $42,000. CWM LLC grew its stake in Vicor by 226.6% during the 3rd quarter. CWM LLC now owns 2,283 shares of the electronics maker’s stock valued at $96,000 after purchasing an additional 1,584 shares in the last quarter. GAMMA Investing LLC increased its holdings in Vicor by 202.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,001 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 670 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Vicor by 200.9% in the 3rd quarter. SG Americas Securities LLC now owns 10,436 shares of the electronics maker’s stock valued at $439,000 after purchasing an additional 6,968 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its stake in shares of Vicor by 66.7% during the 2nd quarter. Point72 DIFC Ltd now owns 2,191 shares of the electronics maker’s stock valued at $73,000 after buying an additional 877 shares during the last quarter. Hedge funds and other 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.