Vicor price target raised to $55 from $50 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Vicor (VICR) to $55 from $50 and keeps a Hold rating on the shares. The firm notes Vicor’s large patent settlement enabled it to handily beat consensus sales/EPS estimates, which is the first sign of tangible success resulting from its positive ITC outcome earlier this year. However, the unnamed company that settled did not receive a license and will not generate future royalties. Craig-Hallum believes there is no license involved because this entity isn’t an OEM or HSDC, suggesting it’s one of the ITC defendants.