James Schmidt, Chief Financial Officer of Vicor Corporation, sold 7,453 shares of the company’s stock on October 23, 2023. This transaction was executed at an average price of $91.75, amounting to a total of $683,812.75. Following this sale, Schmidt holds 875 shares of Vicor, valued at approximately $80,281.25. This sale represents an 89.49% reduction in his stake in the company.
The details of the transaction were disclosed in a legal filing with the Securities and Exchange Commission, accessible on the SEC’s website.
Vicor’s Stock Performance and Recent Earnings
On the day of the transaction, NASDAQ:VICR opened at $89.65. Over the past year, Vicor has experienced significant volatility, with a 52-week low of $38.92 and a 52-week high of $96.58. The company’s market capitalization stands at $4.03 billion, with a price-to-earnings ratio of 48.99 and a beta of 1.73.
Vicor recently reported its earnings on October 21, 2023. The electronics manufacturer achieved earnings per share of $0.63, surpassing analysts’ expectations of $0.20 by $0.43. The company generated revenue of $110.42 million, exceeding the projected $95.40 million and marking an 18.5% increase compared to the same quarter last year.
Institutional Interest in Vicor
Vicor has attracted attention from various institutional investors. In the first quarter, Optimum Investment Advisors acquired a new stake in the company, valued at $26,000. Manchester Capital Management LLC increased its stake by 76.8%, now owning 610 shares worth $29,000 after adding 265 shares to its portfolio.
Similarly, Nisa Investment Advisors LLC boosted its investment by 53.4% in the third quarter, now holding 603 shares valued at $30,000. Other notable investors include Strs Ohio and KBC Group NV, both of which made new acquisitions in the first quarter.
Overall, institutional investors and hedge funds collectively own approximately 47.45% of Vicor’s stock, reflecting strong confidence in the company’s potential for future growth.
Vicor Corporation specializes in designing, developing, and manufacturing modular power components and systems, serving markets across the United States, Europe, and the Asia Pacific. The company offers a diverse range of products, including DC-DC converters and various complementary components aimed at enhancing electrical power conversion efficiency.
