Director Andrew D’Amico of Vicor Corporation sold 1,908 shares of the company’s stock in a transaction dated November 12, 2023. The shares were sold at an average price of $99.13, resulting in a total value of $189,140.04. This sale was disclosed in a document filed with the U.S. Securities and Exchange Commission (SEC).
Following the sale, Vicor’s stock experienced a notable decline, trading down by $5.24 to $89.11 during trading hours on November 13. The stock’s trading volume reached 211,214 shares, which is lower than its average volume of 336,805 shares. Over the past year, Vicor’s shares have fluctuated between a low of $38.92 and a high of $101.00. Currently, the company holds a market capitalization of $3.98 billion and has a price-to-earnings ratio of 48.69.
Vicor’s Analyst Ratings and Institutional Investments
Recent reports from various brokerages indicate a mixed outlook for Vicor. Craig Hallum upgraded the company’s rating from “hold” to “buy” with a price target of $90.00 on October 22, 2023. Similarly, Wall Street Zen also changed its rating from “hold” to “buy” on September 5, 2023. Conversely, Weiss Ratings maintained a “hold (c)” rating for Vicor in its report on October 8, 2023. Presently, the stock enjoys a consensus rating of “Moderate Buy” with an average target price of $90.00 according to data from MarketBeat.
Institutional trading activity has also seen significant changes. Notable investors have adjusted their holdings in Vicor recently. Principal Financial Group Inc. increased its stake by 2.5%, now owning 114,891 shares valued at approximately $5.37 million. Meanwhile, CWM LLC raised its holdings by 33.3%, acquiring an additional 802 shares to reach a total of 3,211 shares valued at around $150,000.
Additionally, Pinnacle Associates Ltd. boosted its investment in Vicor by 29.0%, bringing its total to 356,011 shares, valued at approximately $16.65 million. Manchester Capital Management LLC also increased its stake by 76.8%, now owning 610 shares, worth about $29,000. Overall, institutional investors and hedge funds currently hold 47.45% of Vicor’s shares.
About Vicor Corporation
Vicor Corporation, along with its subsidiaries, focuses on designing, developing, and manufacturing modular power components and systems for converting electrical power. The company operates in various regions, including the United States, Europe, and the Asia Pacific. Its product offerings include brick-format DC-DC converters and complementary components that provide essential services such as AC line rectification, input filtering, and power factor correction.
As Vicor continues to navigate the market, these recent developments highlight the dynamic nature of its stock and the interest from both institutional investors and analysts.
