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

Needham & Company LLC reissued their hold rating on shares of Vicor (NASDAQ:VICR) in a research report sent to investors on Wednesday, Benzinga reports.

VICR has been the topic of several other research reports. Craig Hallum dropped their price objective on Vicor from $40.00 to $35.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. StockNews.com upgraded Vicor from a sell rating to a hold rating in a research note on Friday, May 24th.

Vicor Stock Up 4.9 %

VICR stock opened at $40.33 on Wednesday. The firm has a market cap of $1.80 billion, a PE ratio of 40.33 and a beta of 1.50. The business has a 50 day moving average of $34.88 and a 200-day moving average of $36.50. Vicor has a 12-month low of $30.90 and a 12-month high of $98.38.

Vicor (NASDAQ:VICR) last released its earnings results on Tuesday, July 23rd. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $85.90 million during the quarter, compared to the consensus estimate of $81.77 million. Vicor had a net margin of 7.20% and a return on equity of 4.98%. The business’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share.

Insider Activity at Vicor

In other Vicor news, VP Nancy L. Grava sold 1,277 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $33.91, for a total transaction of $43,303.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 2,150 shares of company stock worth $72,275. Insiders own 31.30% of the company’s stock.

Institutional Investors Weigh In On Vicor

Several institutional investors have recently made changes to their positions in VICR. Byrne Asset Management LLC purchased a new stake in shares of Vicor during the fourth quarter worth $35,000. PNC Financial Services Group Inc. raised its position in shares of Vicor by 37.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,111 shares of the electronics maker’s stock worth $50,000 after buying an additional 303 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Vicor in the second quarter worth $115,000. New Mexico Educational Retirement Board purchased a new stake in shares of Vicor in the first quarter worth $172,000. Finally, Truist Financial Corp raised its position in shares of Vicor by 35.7% in the fourth quarter. Truist Financial Corp now owns 5,000 shares of the electronics maker’s stock worth $225,000 after buying an additional 1,315 shares in the last quarter. Hedge funds and other institutional investors own 47.45% of the company’s stock.

About Vicor

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.