Ashford Capital Management has increased its investment in power conversion technology company Vicor Corporation, adding 128,664 shares valued at approximately $10.94 million during the fourth quarter of 2025. The additional purchase brings the fund's total position to $38.78 million, representing 4.32% of its assets under management, signaling sustained confidence in the company's market position.
Vicor's stock has appreciated significantly, gaining 213% over the past twelve months as investors respond to the company's operational performance and market tailwinds. Third-quarter results demonstrated revenue growth of 18.5% alongside gross margins of 57.5%, underscoring the strength of its business fundamentals during a period of robust demand for semiconductor and power management solutions.
The fund's decision to expand its holdings reflects growing institutional recognition of structural demand for Vicor's high-performance power conversion technology in data center and artificial intelligence infrastructure. As cloud computing and AI deployment continue to scale, demand for efficient power management systems that reduce energy consumption and heat dissipation has become increasingly critical to enterprise customers.