Andrew D’Amico, a director at Vicor Corporation (NASDAQ:VICR), sold 1,908 shares of the company’s stock in a transaction dated November 12, 2023. This sale occurred at an average price of $99.13, amounting to a total value of $189,140.04. Details of the transaction were disclosed in a document filed with the U.S. Securities and Exchange Commission (SEC), which is accessible on the SEC’s official website.
Following D’Amico’s sale, Vicor’s stock experienced a decline, trading down $5.24 to $89.11 on the following day. The trading volume reached 211,214 shares, significantly lower than the average volume of 336,805 shares. Vicor’s stock has seen considerable fluctuations over the past year, with a 52-week low of $38.92 and a 52-week high of $101.00. The company currently holds a market capitalization of $3.98 billion, a price-to-earnings ratio of 48.69, and a beta of 1.81.
Recent Analyst Ratings
Several brokerages have recently provided updates regarding Vicor’s stock. Craig Hallum upgraded the rating from “hold” to “buy” and established a price target of $90.00 on October 22, 2023. Similarly, Wall Street Zen also elevated its rating from “hold” to “buy” in a report issued on September 5, 2023. In contrast, Weiss Ratings maintained a “hold (c)” rating on the shares as of October 8, 2023. Overall, two analysts have rated Vicor with a “buy” designation, while one has issued a “hold” rating, leading to a consensus rating of “Moderate Buy” with an average target price of $90.00, according to data from MarketBeat.
Institutional Trading Activities
Recent changes in institutional holdings reflect growing investor interest in Vicor. Principal Financial Group Inc. increased its stake in the company by 2.5% during the first quarter of 2023, acquiring an additional 2,766 shares to total 114,891 shares valued at approximately $5,375,000. CWM LLC raised its holdings by 33.3%, now owning 3,211 shares worth around $150,000 after purchasing an additional 802 shares.
Other notable institutional activities include Private Advisor Group LLC, which acquired a new stake valued at about $405,000, and Pinnacle Associates Ltd., which increased its position by 29.0%, now holding 356,011 shares valued at $16,654,000. Manchester Capital Management LLC also boosted its stake by 76.8%, owning 610 shares worth approximately $29,000. Currently, institutional and hedge fund investors collectively own 47.45% of Vicor’s stock.
About Vicor Corporation
Vicor Corporation specializes in the design, development, manufacturing, and marketing of modular power components and systems. Its products are utilized for converting electrical power across various industries in the United States, Europe, the Asia Pacific, and beyond. The company offers a variety of solutions, including brick-format DC-DC converters and complementary components that provide functions such as AC line rectification and transient protection, catering to diverse electrical and mechanical needs.
As Vicor navigates the market, the actions of directors and institutional investors alike will likely continue to influence its stock performance. Investors and analysts are closely monitoring the company’s progress and potential future developments in a rapidly evolving sector.
