Vishay Intertechnology (NYSE:VSH) Announces Quarterly Earnings Results

Key Points

• Vishay Intertechnology beat Q1 expectations, reporting EPS of $0.05 versus $0.03 expected and revenue of $839.2 million versus $823.5 million expected. Revenue rose 17.3% year over year, showing solid top-line growth.
• Operating momentum improved as the company’s book-to-bill ratio climbed to 1.34 and backlog grew 21% to $1.6 billion, or 5.7 months. Management said demand strength, inventory replenishment, and share gains were driving the improvement.
• Margins and outlook are improving, with gross margin rising to 21.0% and Q2 guidance calling for about 22.0% gross margin and $875 million-$905 million in revenue. Even so, the company expects free cash flow to remain negative this year due to heavy capital spending.

Vishay Intertechnology (NYSE:VSH - Get Free Report) issued its earnings results on Wednesday. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02, Zacks reports. The business had revenue of $839.24 million during the quarter, compared to analysts' expectations of $823.54 million. Vishay Intertechnology had a negative net margin of 0.29% and a negative return on equity of 0.32%. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share.

Here are the key takeaways from Vishay Intertechnology's conference call:

• Vishay reported Q1 revenue of $839 million, above guidance and up 17.3% year over year, with growth across all end markets, channels, and regions. Management said stronger demand, inventory replenishment, and market-share gains drove the beat.
• Bookings momentum improved materially, with company book-to-bill rising to 1.34 and backlog increasing 21% to $1.6 billion, or 5.7 months. Management said customers are placing longer-visibility orders and building safety stock, especially for AI, automotive, and industrial demand.
• Gross margin expanded to 21.0% in Q1, helped by higher volumes, and Q2 gross margin guidance is for about 22.0% despite continued metal and logistics cost pressure. The company also said pricing actions taken late last year should contribute more in Q2 and Q3.
• Management said Vishay 3.0 is gaining traction, with share gains in automotive, stronger OEM/EMS engagement, and more business from previously underserved customers. They emphasized expanded capacity, subcontractor additions, and closer technical support as key drivers of future growth.
• The company reiterated its 2026 CapEx plan of $400 million to $440 million, including heavy investment in the new 12-inch fab in Germany, and said free cash flow will likely remain negative this year. Management also noted that capital allocation remains under review, with dividends unchanged for now and potential interest in future M&A.

Vishay Intertechnology Stock Up 14.7%

Shares of Vishay Intertechnology stock traded up $4.93 on Wednesday, reaching $38.56. The stock had a trading volume of 9,114,739 shares, compared to its average volume of 2,723,287. The stock has a market capitalization of $5.24 billion, a P/E ratio of -551.54 and a beta of 1.53. Vishay Intertechnology has a 1 year low of $11.77 and a 1 year high of $40.07. The company has a quick ratio of 1.57, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $22.25 and a 200 day moving average price of $18.51.

Vishay Intertechnology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Vishay Intertechnology's payout ratio is presently -571.43%.

Vishay Intertechnology News Roundup

Here are the key news stories impacting Vishay Intertechnology this week:

• Positive Sentiment: Vishay reported Q1 revenue of $839.2 million and EPS of $0.05, both ahead of estimates, while gross margin improved to 21.0% from 19.6% last quarter, showing better execution. Article Title
• Positive Sentiment: Management guided Q2 revenue to $875 million-$905 million and gross margin to about 22%, both signaling continued sequential improvement and stronger profitability. Article Title
• Positive Sentiment: The company cited a strong 1.34 book-to-bill ratio and 5.7 months of backlog, indicating healthy order momentum and supporting the case for an industry upcycle. Article Title
• Neutral Sentiment: Vishay also announced a new PAR and TRANSZORB TVS product in a compact package, a constructive product-development update but likely a smaller near-term driver for the shares.
• Negative Sentiment: The quarter still showed modest profitability and negative free cash flow, so investors may remain focused on whether margin gains can translate into stronger cash generation. Article Title

Institutional Trading of Vishay Intertechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Vishay Intertechnology in the 3rd quarter valued at $39,000. Empowered Funds LLC acquired a new position in Vishay Intertechnology during the fourth quarter worth $57,000. Amundi purchased a new stake in shares of Vishay Intertechnology during the fourth quarter worth $164,000. Entropy Technologies LP purchased a new stake in shares of Vishay Intertechnology in the third quarter valued at about $182,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Vishay Intertechnology in the fourth quarter valued at about $191,000. Institutional investors and hedge funds own 93.66% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vishay Intertechnology in a report on Wednesday, January 21st. Zacks Research upgraded shares of Vishay Intertechnology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Vishay Intertechnology from $14.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. Bank of America upped their target price on shares of Vishay Intertechnology from $14.00 to $16.00 and gave the company an "underperform" rating in a report on Thursday, January 22nd. Finally, Argus raised shares of Vishay Intertechnology to a "strong-buy" rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $18.00.

About Vishay Intertechnology

Vishay Intertechnology, Inc is a global manufacturer of discrete semiconductors and passive electronic components, serving a wide range of industries including industrial, automotive, computing, consumer electronics, telecommunications, medical, and military/aerospace markets. The company's portfolio encompasses resistors, capacitors, inductors, sensors, diodes, rectifiers, MOSFETs and a variety of integrated circuit solutions. Vishay's components are used in power management, signal conditioning, circuit protection and sensing applications, supporting both standard and custom designs for original equipment manufacturers worldwide.

Originally founded in 1962 by Dr.

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