Vicor Corporation (VICR) Stock Price & How to Invest
Short answer
You can invest in Vicor (VICR) by buying shares or fractional shares at any major broker, through a small-cap or semiconductor ETF that holds it, or as one holding in a thematic basket. Vicor is a US maker of high-density modular power components and power-delivery systems, increasingly positioned around AI data-center power, and it trades at a rich valuation that prices in strong future growth.
VICR stock price
As of 2026-07-08, Vicor Corporation (VICR) last closed at $263.16, up 463.3% over the past year. Over the past 52 weeks it has traded between $43.85 and $379.78.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Vicor Corporation's investor relations page. Walnut is informational, not investment advice.
What does Vicor Corporation (VICR) do?
Vicor Corporation designs, manufactures, and sells modular power components and complete power systems that convert electrical power efficiently for electronic devices. Headquartered in Andover, Massachusetts, it builds converters, power modules, and integrated circuits using patented high-frequency switching and its Factorized Power Architecture, which lets its parts be smaller and more efficient than conventional alternatives. Its products go into high-performance computing and AI accelerators, data centers, aerospace and defense, industrial equipment, and automotive, with recent focus on delivering the last inch of power to power-hungry AI chips through products like its NBM bus converters and vertical power delivery (VPD) modules.
The investment picture centers on AI infrastructure. As GPU and accelerator power demands climb, Vicor is pushing its high-density 48V power architecture and vertical power delivery closer to the processor, and it has ramped its own vertically integrated fabrication to support large-scale deployments. Full-year 2025 saw product revenue growth return, record backlog, and a large patent-litigation settlement that boosted headline results. The stock has re-rated sharply on this AI narrative, leaving it with a high price-to-earnings multiple, so the debate is whether Vicor can win enough sockets against much larger rivals to justify that valuation.
What's driving Vicor Corporation (VICR)?
1. AI data-center power demand.
Rising power draw from AI accelerators is driving demand for denser, more efficient power delivery, which is Vicor's core specialty. Its 48V-to-point-of-load architecture, NBM bus converters, and vertical power delivery modules target the last inch of power to the chip. Management pointed to strong AI, industrial, and defense demand, with Q1 2026 revenue up about 20% year over year.
2. Vertical fabrication ramp and margins.
Vicor invested in its own vertically integrated manufacturing to control quality and scale for large deployments, with fab utilization reported nearing 80% heading into 2026. Higher utilization and product mix helped gross margin reach about 55% in the fourth quarter of 2025. Better throughput supports both capacity for AI orders and margin leverage if volumes hold.
3. Backlog and royalty streams.
Backlog rose to about $177 million at the end of 2025, up roughly 14% year over year, giving some visibility into future shipments. Vicor also earns high-margin royalty and licensing revenue tied to its patent portfolio, which grew in 2025, and it collected a large one-time patent settlement. These intellectual-property streams can supplement product revenue but are lumpier.
4. Record 2026 targeted.
Management has guided toward a record year for product revenue in 2026, citing robust demand across high-performance computing, industrial, and defense end markets. New generations of its high-density modules aim to win designs inside next-wave AI server racks. Execution on new-product ramps and design wins is the key swing factor for that target.
What are the risks to Vicor Corporation (VICR)?
Vicor faces intense competition from far larger power-semiconductor companies, including Monolithic Power Systems, Texas Instruments, Analog Devices, Infineon, Renesas, and Delta Electronics, and it notably lost socket share on some Nvidia GPU platforms to lower-cost integrated rivals. Its business is concentrated and cyclical: results depend heavily on a handful of large customers and on the AI and industrial capital-spending cycle, so orders can swing sharply. The stock trades at a high price-to-earnings multiple (roughly 90 to 110 times earnings in mid-2026), which leaves little room for disappointment and can produce large drawdowns if growth slows. Royalty and one-time settlement income can flatter reported results, and a published short thesis argues AI-chip design trends could erode Vicor's competitive position over time.
How is Vicor Corporation (VICR) valued? (approximate, FEBRUARY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Vicor Corporation's investor relations page or your broker.
- Total revenue (FY2025): ~$452.7 million (incl. ~$45M patent settlement)
- Product revenue (FY2025): ~$350.3 million (up ~12%)
- Net income (FY2025): ~$118.6 million
- Diluted EPS (FY2025): ~$2.61
- Market cap (mid-2026): ~$12.9 billion
- P/E ratio (mid-2026): ~90 to 110x
Full-year 2025 total revenue reached about $452.7 million, but that includes a roughly $45 million one-time patent-litigation settlement, so the cleaner operating figure is product revenue near $350.3 million plus about $57.4 million of royalties. Cash and equivalents stood near $402.8 million with no meaningful debt. The stock re-rated sharply higher on the AI power theme, pushing its earnings multiple well above semiconductor-sector averages.
Who competes with Vicor Corporation (VICR)?
Power-management IC and module giants
Monolithic Power Systems, Texas Instruments, Analog Devices, Infineon, and Renesas are much larger, better-capitalized rivals that supply power-delivery chips and modules for data centers and industrial systems. Monolithic Power in particular has taken AI-GPU power sockets from Vicor with integrated, lower-cost multi-phase solutions, and their scale pressures Vicor's pricing and margins.
Rack and system power integrators
Delta Electronics and other rack-level power suppliers both buy from and compete with Vicor by building their own module and power-shelf solutions for hyperscale data centers. Their system-level relationships with server makers can win or displace Vicor's component and design opportunities.
High-density modular power specialists
Vicor competes against other modular DC-DC and brick-converter makers serving aerospace, defense, and industrial customers, where efficiency, density, and reliability matter. Vicor differentiates on its patented Factorized Power Architecture and vertical power delivery, but rivals are advancing their own high-density and 48V approaches.
How to invest in Vicor Corporation (VICR)
There are three common ways to get VICR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so VICR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where VICR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Vicor Corporation (VICR)
Vicor is a profitable, specialized US power-electronics company riding AI data-center power demand, but it carries a high earnings multiple and real competitive pressure, so it tends to behave like a volatile growth stock rather than a steady compounder.
More on Vicor Corporation (VICR)
Whether VICR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VICR a buy?, and where the stock could go from here in the VICR stock forecast.
For income investors, whether VICR pays a dividend and how the payout looks is covered in does VICR pay a dividend?
Build a basket around VICR with Walnut
Use Vicor Corporation as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Vicor Corporation do?
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Vicor designs and manufactures modular power components and complete power systems that convert electrical power efficiently for electronic devices. Its high-density converters and modules go into AI and high-performance computing, data centers, aerospace and defense, industrial equipment, and automotive applications.
Why is Vicor tied to the AI trade?
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AI accelerators draw enormous power, and Vicor specializes in delivering dense, efficient power the last inch to the processor using its 48V architecture, NBM bus converters, and vertical power delivery modules. Rising AI data-center buildout is the main driver behind its recent revenue growth and stock re-rating.
How did Vicor perform financially in 2025?
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For full-year 2025, product revenue grew about 12% to roughly $350.3 million and royalty revenue rose to about $57.4 million. Including a roughly $45 million patent-litigation settlement, total revenue reached about $452.7 million and net income was about $118.6 million, or about $2.61 per diluted share.
Is Vicor profitable?
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Yes. Vicor was solidly profitable in 2025 with net income near $118.6 million, helped by revenue growth, a fourth-quarter gross margin around 55%, and a one-time patent settlement. It also held about $402.8 million in cash with little debt at year-end 2025.
Who are Vicor's main competitors?
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Its most direct rival in AI power is Monolithic Power Systems, which won sockets Vicor previously targeted. Other large competitors include Texas Instruments, Analog Devices, Infineon, Renesas, and Delta Electronics, all much bigger than Vicor and competing on price, integration, and scale.
Why does Vicor have such a high P/E ratio?
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Investors bid the stock up on optimism about AI data-center power demand, pushing its price-to-earnings multiple to roughly 90 to 110 times in mid-2026, well above the semiconductor-sector average. A high multiple prices in strong future growth and leaves the stock vulnerable to sharp declines if growth disappoints.
What are the biggest risks with VICR?
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Key risks include intense competition from much larger rivals, customer and end-market concentration, cyclical AI and industrial spending, a rich valuation that magnifies drawdowns, and reliance on lumpy royalty and one-time settlement income. A published short thesis also argues AI-chip trends could erode Vicor's position.
How can I invest in Vicor?
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Vicor trades on the Nasdaq under the ticker VICR, so you can buy shares or fractional shares through any major brokerage, hold it via a small-cap or semiconductor ETF that includes it, or add it as one position in a thematic basket. Walnut is not an investment adviser, and this is descriptive information, not a recommendation to buy or sell.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Vicor Corporation's investor relations page or your broker before making investment decisions.