Needham upgrades Vicor to Buy, sees improving outlook

Needham upgraded Vicor (VICR) to Buy from Hold with a $90 price target The outlook for Vicor is improving, as the company has not only agreed on a new license agreement with an existing OEM customer for a two year term, its IP licensing business is also gaining momentum more broadly while the management believes it could double over the next few years, the analyst tells investors in a research note. Needham adds that it sees the strong growth in the high margin IP licensing business creating significant value for shareholders, while its Gen 5 solution has now met 100% of the current density requirements for its lead customer with a new solution at 133% of the requirement expected in January.