Vicor Corp beats estimates as AI power module demand rises

Vicor Corporation’s shares fell 12.8% in mid‑day trading, slipping to $180.54 after closing at $206.44 the day before. Analysts adjusted price targets, with Craig Hallum raising his to $450 and Roth Capital to $375, while others cut theirs.

The company posted a second‑quarter earnings report that beat expectations, delivering earnings per share of $1.04 versus the consensus $0.65 and revenue of $143.35 million versus $138.37 million forecast. Net margin was 30.65% and return on equity 19.83%, with revenue up 49.3% year‑over‑year.

CEO Patrizio Vinciarelli said Vicor has completed development of a baseline current‑density target for its lead customer and will begin engaging customers with second‑generation technology this quarter, underscoring the firm’s role in supplying power modules that keep large AI clusters running.