Vicor (NASDAQ:VICR) Sets New 1-Year Low Following Weak Earnings

Vicor Co. (NASDAQ:VICR)’s share price reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $33.53 and last traded at $35.52, with a volume of 85800 shares traded. The stock had previously closed at $35.18.

The electronics maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Vicor had a net margin of 13.23% and a return on equity of 10.45%. The firm had revenue of $83.80 million for the quarter, compared to analysts’ expectations of $84.83 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was down 14.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VICR. Craig Hallum cut shares of Vicor from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Friday, February 23rd. StockNews.com raised Vicor from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Needham & Company LLC restated a “hold” rating on shares of Vicor in a report on Wednesday.

Insider Transactions at Vicor

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VICR. Byrne Asset Management LLC bought a new position in shares of Vicor during the 4th quarter valued at about $35,000. PNC Financial Services Group Inc. increased its holdings 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 purchasing an additional 303 shares during the last quarter. New Mexico Educational Retirement Board purchased a new stake in shares of Vicor in the first quarter worth about $172,000. Acadian Asset Management LLC boosted its stake in Vicor by 30.0% during the third quarter. Acadian Asset Management LLC now owns 3,056 shares of the electronics maker’s stock valued at $178,000 after buying an additional 706 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Vicor by 913.5% during the third quarter. Federated Hermes Inc. now owns 3,456 shares of the electronics maker’s stock valued at $204,000 after buying an additional 3,115 shares during the last quarter. 47.45% of the stock is currently owned by institutional investors.

Vicor Stock Performance

The firm has a fifty day simple moving average of $38.12 and a two-hundred day simple moving average of $40.36. The firm has a market cap of $1.52 billion, a PE ratio of 30.12 and a beta of 1.53.

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.