Needham analyst Quinn Bolton lowered the firm’s price target on Vicor to $55 from $65 but keeps a Buy rating on the shares. The company’s Q1 results missed on sales but beat on margins, and while backlog fell 11% sequentially, it was still better than expected, the analyst tells investors in a research note. Needham adds that Vicor believes that bookings bottomed in Q4 and expects further improvement in Q2.
Published first on TheFly
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