Vicor (VICR 1.80%) stock closed out this week's trading stretch with big gains. The tech company's share price ended Friday's session up 25.4% compared to its level at the end of the previous week's trading.
Tech stocks enjoyed a bullish backdrop over the last week, with the S&P 500 climbing 0.5% and the Nasdaq Composite rising 1.5%. With the market's appetite for tech stocks already rising, the stage was set for Vicor's better-than-expected Q1 results to power huge gains for the stock.
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Vicor crushed Wall Street's Q1 forecast
Vicor recorded earnings per share of $0.44 on sales of $113 million in the first quarter. Earnings per share beat the average analyst estimate by $0.11, and sales came in $3.65 million higher than anticipated. The power-components specialist's revenue surged roughly 20% higher year over year, and the company reported an order backlog of $301 million at the end of the quarter -- up 75% year over year.
NASDAQ: VICR
Key Data Points
What's next for Vicor?
In addition to posting strong sales and earnings beats in the first quarter, Vicor returned to providing definitive forward guidance. The company said that it anticipates second-quarter revenue to come in at nearly $126 million. Meanwhile, sales for the full-year period are projected to come in at nearly $570 million. For reference, the business recorded sales of $452.7 million last year. Vicor's return to providing detailed forward guidance even amid geopolitical instability is a positive development for shareholders, and investors poured back into the stock this week.
