Pinnacle Associates Ltd. Sells 74,981 Shares of Vicor Co. (NASDAQ:VICR)

Pinnacle Associates Ltd. decreased its position in Vicor Co. (NASDAQ:VICR - Free Report) by 50.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,365 shares of the electronics maker's stock after selling 74,981 shares during the period. Pinnacle Associates Ltd. owned approximately 0.17% of Vicor worth $3,342,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Eastern Bank acquired a new stake in Vicor during the 3rd quarter worth approximately $42,000. CWM LLC raised its holdings in shares of Vicor by 226.6% during the third quarter. CWM LLC now owns 2,283 shares of the electronics maker's stock worth $96,000 after acquiring an additional 1,584 shares during the period. GAMMA Investing LLC lifted its position in Vicor by 202.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,001 shares of the electronics maker's stock valued at $42,000 after acquiring an additional 670 shares in the last quarter. SG Americas Securities LLC lifted its position in Vicor by 200.9% in the 3rd quarter. SG Americas Securities LLC now owns 10,436 shares of the electronics maker's stock valued at $439,000 after acquiring an additional 6,968 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its stake in Vicor by 66.7% in the 2nd quarter. Point72 DIFC Ltd now owns 2,191 shares of the electronics maker's stock worth $73,000 after purchasing an additional 877 shares during the period. Institutional investors own 47.45% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VICR shares. Needham & Company LLC restated a "hold" rating on shares of Vicor in a report on Wednesday, October 23rd. Craig Hallum boosted their target price on Vicor from $35.00 to $43.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd.

Insiders Place Their Bets

In other Vicor news, VP Philip D. Davies sold 23,494 shares of Vicor stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.83, for a total transaction of $841,790.02. Following the completion of the transaction, the vice president now directly owns 15,763 shares of the company's stock, valued at $564,788.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 31.00% of the company's stock.

Vicor Trading Up 0.7 %

Shares of Vicor stock traded up $0.33 during trading hours on Friday, reaching $46.04. 147,374 shares of the company's stock were exchanged, compared to its average volume of 223,675. The stock has a market cap of $2.08 billion, a P/E ratio of 95.23 and a beta of 1.51. The company has a 50 day moving average of $40.24 and a two-hundred day moving average of $36.93. Vicor Co. has a fifty-two week low of $30.90 and a fifty-two week high of $51.89.

Vicor (NASDAQ:VICR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The electronics maker reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.13. Vicor had a return on equity of 4.00% and a net margin of 6.08%. The firm had revenue of $93.17 million during the quarter, compared to the consensus estimate of $85.23 million. During the same period last year, the company earned $0.37 earnings per share. The business's revenue was down 13.6% compared to the same quarter last year.

Vicor Profile

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.