Vicor's declining ROCE and modest 24% stock return over five years hint at limited multi-bagger potential. Despite shrinking returns, the company's reinvestment is somewhat encouraging but fails to counteract negative trends.
The downgrade in Vicor's earnings and revenue estimates suggests potential business headwinds. The market may become more wary of the business given the scope of the downgrades.
Analysts' sentiment dips following latest results, with significant cuts to revenue estimates and a slight decrease in EPS. Price targets also reduced, indicating increased pessimism about the business's intrinsic value.
Vicor's high P/E ratio, seen as unsustainable, is due to investor expectations of continued market outperformance. However, with forecasted growth lower than the market, current prices may be unreasonable without significant conditions improvement.
Analyses reveal skepticism in Vicor's potential due to unimpressive ROCE and stagnant sales, even after capital reinvestment. The uninspiring trends suggest investors may find better opportunities elsewhere.
Insider shares sold at a price much higher than the current one might indicate a lack of confidence in the current price level. Sustained high insider ownership could suggest alignment between management and shareholder interests.
Analysts bearish on Vicor's prospects post latest results, leading to a marked down revenue and slashed EPS estimates. Its projected revenue growth through 2024 is anticipated lower than industry average.
Needham has downgraded due to unsatisfactory booking and backlog data, cautious management tone, and intensified competition eating into Vicor's business. They predict the stock to be range-bound for the coming year and have lowered Vicor's 2024/2025 estimates.
Vicor電子股票討論區
1991年上市的美國公司,主要做電源組件和系統業務,主要市場在美國亞太和歐洲,當前價格33.72。
5年來營收除2019年外增長了4年,平均增速6.8%,營業利潤則受毛利率波動影響較大,2021和2023年是毛利率和營業利潤的兩次高點,5年平均增速9.65,淨利潤平均增速11%。
2024Q1營收、營業利潤和淨利潤全面大幅萎縮。
目前市盈率28,市盈率TTM33.6,近3年平均淨利0.45億對應市盈率爲33.2,過往毛利率波動沒有什麼規律,利潤波動難以預測,長期增速也不高,目前估值吸引力不大。
優於預期的業績發佈後迎來跳空上漲,也創下歷史新高的單週成交量,回調到MA20上方縮量窄幅橫行,放量突破tight pivot後買入會是個低風險的交易機會。
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