Needham analyst Quinn Bolton assigned a Buy rating to Vicor (VICR) today and set a price target of $95.00. The company’s shares closed last Thursday at $82.11, close to its 52-week high of $90.88.
According to TipRanks.com, Bolton is a top 25 analyst with an average return of 31.7% and a 74.8% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Axcelis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vicor with a $80.00 average price target.
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Based on Vicor’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $70.76 million and net profit of $2.67 million. In comparison, last year the company earned revenue of $63.36 million and had a net profit of $2.56 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VICR in relation to earlier this year. Last month, Michael Mcnamara, the General Manager Mfg. Ops. of VICR sold 7,800 shares for a total of $648,336.
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Vicor Corp. engages in the design, development, manufacture, and marketing of modular power components and complete power systems based upon a portfolio of patented technologies. It operates through the following segments: Brick Business Unit, VI Chip, Picor, and Corporate. The Brick Business Unit provides modular power converters and configurable products. The VI Chip segment offers advanced power component products, through the company’s subsidiary VI Chip Corp. The Picor segment includes integrated circuits and related products for use in a variety of power system applications. The Corporate segment consists of those operations and assets shared by all operating segments. The company was founded by Patrizio Vinciarelli in 1981 and is headquartered in Andover, MA.
