Needham Thinks Vicor’s Stock is Going to Recover

In a report issued on July 5, Quinn Bolton from Needham maintained a Buy rating on Vicor (VICRResearch Report), with a price target of $90.00. The company’s shares closed last Wednesday at $53.48, close to its 52-week low of $50.22.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 40.2% and a 63.9% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Credo Technology Group Holding Ltd, and Rockley Photonics Holdings.

Currently, the analyst consensus on Vicor is a Moderate Buy with an average price target of $95.00.

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Based on Vicor’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $88.28 million and net profit of $5 million. In comparison, last year the company earned revenue of $88.8 million and had a net profit of $15.09 million.

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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.

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