Needham has raised its price target for Vicor Corporation (NASDAQ:VICR) to $260 from $180, while maintaining a Buy rating. The company's stock has experienced a remarkable surge of nearly 400% over the past year, currently trading at $250 with a market capitalization of $11.16 billion. Vicor reported first-quarter 2026 results that exceeded expectations, with earnings per share of $0.44, surpassing the projected $0.37. Revenue for the quarter reached $113 million, exceeding the anticipated $109.05 million. Looking ahead, Vicor has provided guidance for second-quarter 2026 revenue of $126 million, above the Street estimate of $124.3 million, and full-year revenue guidance of $570 million, compared to the Street estimate of $547.8 million. The company also highlighted the potential to increase the annual revenue capacity of its Andover ChiP fab from a prior target of $1 billion to $1.5 billion. Additionally, Vicor's backlog increased by 70% quarter-over-quarter to $300.6 million, with a book-to-bill ratio above 2.0. Despite these strong results, the stock faced a decline in premarket trading, influenced by broader market conditions.