Vicor Corporation’s Chief Financial Officer, James Schmidt, sold 7,453 shares of the company’s stock on October 23, 2023. The shares were sold at an average price of $91.75, resulting in a total transaction value of $683,812.75. Following this sale, Schmidt holds just 875 shares of Vicor, valued at approximately $80,281.25. This transaction marked a significant reduction of 89.49% in his overall position in the company.
The details of this sale were disclosed in a legal filing with the Securities and Exchange Commission (SEC), which is accessible via the SEC’s official website.
Vicor Stock Performance and Financial Results
On the trading day following the transaction, Vicor’s stock opened at $89.65, reflecting a slight decline of 0.4%. Over the past year, the stock has reached a low of $38.92 and a high of $96.58. Currently, Vicor boasts a market capitalization of $4.03 billion, a price-to-earnings ratio of 48.99, and a beta of 1.73.
Vicor Corporation recently reported its earnings results for the quarter ending October 21, 2023. The electronics manufacturer achieved earnings per share (EPS) of $0.63, surpassing analysts’ expectations of $0.20 by $0.43. The company’s revenue reached $110.42 million, significantly exceeding forecasts of $95.40 million. This marks an increase of 18.5% compared to the same quarter in the previous year, where the company reported an EPS of $0.26.
Institutional Investments in Vicor
Recent movements among institutional investors indicate a growing interest in Vicor shares. Optimum Investment Advisors acquired a new stake in Vicor during the first quarter, valued at $26,000. Similarly, Manchester Capital Management LLC increased its stake by 76.8%, now owning 610 shares worth $29,000 after purchasing an additional 265 shares.
Other notable movements include Nisa Investment Advisors LLC, which raised its stake by 53.4% in the third quarter, now holding 603 shares valued at $30,000. Strs Ohio and KBC Group NV also acquired new stakes in the company, valued at $56,000 and $57,000, respectively. Currently, institutional investors and hedge funds collectively own 47.45% of Vicor’s shares.
Founded in the United States, Vicor Corporation designs, develops, and manufactures modular power components and power systems. Its product offerings include a range of DC-DC converters and complementary components for electrical power conversion, serving markets across the United States, Europe, the Asia Pacific, and globally.
