James Schmidt, the Chief Financial Officer of Vicor Corporation, sold a significant portion of his shares in the company on October 23, 2023. In a transaction that raised eyebrows, Schmidt divested 7,453 shares at an average price of $91.75, totaling $683,812.75. Following this sale, he retained a mere 875 shares, valued at approximately $80,281.25, marking an 89.49% reduction in his stake.
This transaction was officially reported to the Securities and Exchange Commission (SEC), as mandated by regulatory requirements. The filing is accessible on the SEC’s website, ensuring transparency in corporate governance.
Vicor Stock Performance and Recent Earnings
On October 25, 2023, Vicor’s stock opened at $89.65, reflecting a slight decline of 0.4% from the previous day. Over the past year, the stock has experienced a low of $38.92 and a high of $96.58. The company currently holds a market capitalization of $4.03 billion, with a price-to-earnings ratio of 48.99 and a beta of 1.73, suggesting a higher volatility compared to the overall market.
In its latest earnings report, released on October 21, 2023, Vicor announced an earnings per share (EPS) of $0.63, exceeding analysts’ expectations of $0.20 by $0.43. The company recorded a net margin of 18.63% and a return on equity of 13.77%. Vicor’s revenue for the quarter reached $110.42 million, surpassing forecasts of $95.40 million and reflecting an 18.5% year-over-year increase.
Institutional Investor Activity
Recent activity among institutional investors highlights growing interest in Vicor. Several hedge funds have adjusted their positions in the company. Notably, Optimum Investment Advisors acquired a new stake in Vicor worth $26,000 in the first quarter of 2023. Meanwhile, Manchester Capital Management LLC boosted its stake by 76.8%, now holding 610 shares valued at $29,000 after purchasing an additional 265 shares.
Additionally, Nisa Investment Advisors LLC increased its holdings by 53.4% during the third quarter, now owning 603 shares worth $30,000. Strs Ohio and KBC Group NV also entered the market with new stakes of $56,000 and $57,000, respectively. Collectively, institutional investors now hold 47.45% of Vicor’s stock.
Vicor Corporation, headquartered in the United States, specializes in the design, development, and manufacturing of modular power components and systems. The company serves various markets, including the Americas, Europe, and Asia Pacific, providing a range of products aimed at converting electrical power efficiently.
As Vicor continues to navigate the complexities of the electronics market, the recent stock movements and investor interest could signal pivotal changes ahead for the company.
