Vicor Co. (NASDAQ:VICR) Sees Significant Drop in Short Interest

Vicor Co. (NASDAQ:VICR) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,430,000 shares, a decrease of 17.3% from the December 15th total of 1,730,000 shares. Approximately 6.2% of the shares of the stock are sold short. Based on an average daily volume of 259,100 shares, the days-to-cover ratio is currently 5.5 days.

Insider Activity

In related news, Director Estia J. Eichten sold 8,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.51, for a total transaction of $444,080.00. Following the completion of the sale, the director now directly owns 230,267 shares in the company, valued at $12,782,121.17. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alex Gusinov sold 856 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $59.01, for a total value of $50,512.56. Following the sale, the vice president now owns 16,018 shares of the company’s stock, valued at $945,222.18. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,856 shares of company stock worth $598,413. 31.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VICR. JPMorgan Chase & Co. lifted its stake in shares of Vicor by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,275,237 shares of the electronics maker’s stock valued at $137,887,000 after purchasing an additional 1,236,264 shares during the period. Millennium Management LLC purchased a new position in shares of Vicor in the 2nd quarter valued at approximately $5,019,000. Federated Hermes Inc. purchased a new position in shares of Vicor in the 2nd quarter valued at approximately $4,192,000. Dimensional Fund Advisors LP lifted its stake in shares of Vicor by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 543,153 shares of the electronics maker’s stock valued at $18,012,000 after purchasing an additional 66,775 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Vicor by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 572,195 shares of the electronics maker’s stock valued at $24,094,000 after purchasing an additional 33,696 shares during the period. Hedge funds and other institutional investors own 47.45% of the company’s stock.

Vicor Stock Performance

NASDAQ VICR opened at $48.24 on Thursday. Vicor has a fifty-two week low of $30.90 and a fifty-two week high of $61.05. The stock has a 50 day simple moving average of $53.05 and a two-hundred day simple moving average of $43.98. The stock has a market cap of $2.18 billion, a P/E ratio of 100.50 and a beta of 1.50.

Vicor (NASDAQ:VICR) last released its quarterly earnings data on Tuesday, October 22nd. The electronics maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.13. Vicor had a return on equity of 4.00% and a net margin of 6.08%. The business had revenue of $93.17 million during the quarter, compared to analysts’ expectations of $85.23 million. During the same quarter last year, the business posted $0.37 EPS. The business’s revenue was down 13.6% on a year-over-year basis.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VICR shares. Craig Hallum increased their target price on Vicor from $35.00 to $43.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Vicor in a report on Wednesday, October 23rd.

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.