Craig Hallum Lowers Vicor (NASDAQ:VICR) Price Target to $35.00

Vicor (NASDAQ:VICR) had its price target lowered by investment analysts at Craig Hallum from $40.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the electronics maker’s stock. Craig Hallum’s price target points to a potential upside of 9.72% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Vicor from a “sell” rating to a “hold” rating in a report on Saturday. Needham & Company LLC reiterated a “hold” rating on shares of Vicor in a report on Wednesday.

Vicor Price Performance

VICR traded down $3.28 on Wednesday, reaching $31.90. 310,040 shares of the company traded hands, compared to its average volume of 265,088. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 26.77 and a beta of 1.53. The stock’s 50 day moving average price is $38.12 and its 200-day moving average price is $40.36. Vicor has a 52-week low of $31.76 and a 52-week high of $98.38.

Vicor (NASDAQ:VICR) last announced its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). The business had revenue of $83.80 million for the quarter, compared to analyst estimates of $84.83 million. Vicor had a return on equity of 10.45% and a net margin of 13.23%. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS.

Insider Buying and Selling

In other news, VP Robert Gendron sold 2,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $36.83, for a total value of $73,660.00. Following the completion of the transaction, the vice president now owns 5,374 shares in the company, valued at approximately $197,924.42. The sale was disclosed in a filing with the SEC, which is available at this link. In other Vicor news, VP Kemble D. Morrison sold 2,659 shares of Vicor stock in a transaction on Monday, February 26th. The stock was sold at an average price of $37.00, for a total transaction of $98,383.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert Gendron sold 2,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $36.83, for a total transaction of $73,660.00. Following the completion of the sale, the vice president now directly owns 5,374 shares in the company, valued at approximately $197,924.42. The disclosure for this sale can be found here. Insiders have sold a total of 4,999 shares of company stock valued at $184,990 over the last three months. 31.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vicor

A number of large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Vicor during the first quarter worth $1,714,000. New Mexico Educational Retirement Board bought a new stake in Vicor during the 1st quarter worth about $172,000. Bouvel Investment Partners LLC increased its position in Vicor by 42.5% in the 1st quarter. Bouvel Investment Partners LLC now owns 24,253 shares of the electronics maker’s stock valued at $927,000 after acquiring an additional 7,231 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Vicor by 37.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,111 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 303 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Vicor by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 2,477,438 shares of the electronics maker’s stock valued at $111,336,000 after purchasing an additional 285,699 shares during the last quarter. 47.45% of the stock is currently owned by institutional investors.

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.