Vicor Corp. (VICR) stock jumped more than 11% in Thursday premarket trading after the power technology company raised its third-quarter revenue growth outlook for the second time in September.

The company now expects sequential revenue growth of more than 30% for the third quarter of 2026. That is up from its previous forecast of more than 20%.

Licensing Royalties Boost Outlook

Vicor said Wednesday that higher royalties from its first non-exclusive Vertical Power Delivery, or VPD, license drove the stronger forecast.

The latest increase marks Vicor's second guidance hike this month.

Earlier in September, the company raised its third-quarter sequential revenue growth forecast to more than 20% from about 10%. That increase was also driven by royalty revenue from the VPD licensing agreement.

The repeated increases highlight the growing contribution from Vicor's intellectual property licensing business.

In a Sept. 21 press release, CEO Patrizio Vinciarelli said four major OEMs and hyperscalers had secured licenses to Vicor's patented power system technology.

He said the company expects licensing opportunities to expand as customers seek to avoid supply disruptions and potential patent-related restrictions tied to unlicensed products.

Vicor Earnings And Analyst Outlook

Vicor's next earnings report is estimated for Oct. 20.

Analysts expect earnings of $1.01 per share, up from 63 cents a year earlier. Revenue is estimated at $165.45 million, compared with $110.42 million in the prior-year period.

Vicor trades at a price-to-earnings ratio of about 92.6, reflecting a premium valuation.

The stock carries a Buy consensus rating with an average price forecast of $381.67.

Roth Capital maintained a Buy rating and a $375 price forecast on Sept. 22. Needham maintained a Buy rating and a $320 forecast the same day.

Momentum Scores And Valuation

Market data gives Vicor a momentum score of 99.43, quality score of 94.57 and growth score of 80.99.

However, its value score stands at just 4.8. The combination highlights strong momentum and business quality alongside an expensive valuation.

Vicor ETF Exposure

The Main Thematic Innovation ETF (TMAT) has a 2.05% weighting in Vicor.

The VegaShares AI Thermal, Cooling & Power Management ETF (COOL) has a 4.88% weighting.

As a result, large fund inflows or outflows could add to trading activity in Vicor shares.

Targets High-Performance Computing

Andover, Massachusetts-based Vicor designs and manufactures modular power components and power systems using its portfolio of patented technologies.

The company also licenses its patents to original equipment manufacturers and hyperscalers seeking greater supply-chain flexibility and scalability.

Vicor's technology is used across high-performance computing, industrial, transportation, aerospace and defense markets.

Vicor Price Action

VICR Price Action: Vicor shares were up 11.38% at $321.82 during premarket trading on Thursday, according to market data.