Vishay Intertechnology (NYSE:VSH) Trading Down 16.6% After Earnings Miss

Key Points

• Vishay Intertechnology's shares plummeted 16.6% following a quarterly earnings report that missed expectations, with reported earnings per share (EPS) at ($0.07), below the consensus estimate of $0.02.
• The company announced a $0.10 quarterly dividend, offering a 3.0% yield, but has a negative payout ratio of -81.63%, signaling potential financial strain.
• Institutional investors show interest with significant recent increases in holdings, including First Trust Advisors LP, which raised its stake by 34.5% during the last quarter.

Vishay Intertechnology, Inc. (NYSE:VSH - Get Free Report) was down 16.6% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $13.13 and last traded at $13.35. Approximately 440,363 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,944,415 shares. The stock had previously closed at $16.01.

The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). Vishay Intertechnology had a negative return on equity of 0.10% and a negative net margin of 3.00%. The firm had revenue of $762.25 million during the quarter, compared to analysts' expectations of $756.07 million. During the same period last year, the business earned $0.17 earnings per share. The business's revenue was up 2.8% on a year-over-year basis.

Vishay Intertechnology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. Vishay Intertechnology's payout ratio is currently -61.54%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Vishay Intertechnology from a "sell" rating to a "hold" rating in a report on Saturday.

Insider Activity at Vishay Intertechnology

In related news, EVP Roy Shoshani purchased 10,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $14.95 per share, for a total transaction of $149,500.00. Following the acquisition, the executive vice president directly owned 106,550 shares in the company, valued at approximately $1,592,922.50. The trade was a 10.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Mcconnell bought 2,000 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $14.69 per share, for a total transaction of $29,380.00. Following the purchase, the chief financial officer directly owned 53,501 shares of the company's stock, valued at approximately $785,929.69. This represents a 3.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 16,750 shares of company stock valued at $253,568. Corporate insiders own 8.32% of the company's stock.

Institutional Investors Weigh In On Vishay Intertechnology

Several large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in Vishay Intertechnology by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 104,986 shares of the semiconductor company's stock worth $1,778,000 after purchasing an additional 1,767 shares in the last quarter. Legal & General Group Plc boosted its position in Vishay Intertechnology by 52.9% during the fourth quarter. Legal & General Group Plc now owns 322,164 shares of the semiconductor company's stock worth $5,457,000 after purchasing an additional 111,452 shares during the period. Sterling Capital Management LLC boosted its position in Vishay Intertechnology by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,980 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 3,547 shares during the period. Bragg Financial Advisors Inc boosted its position in Vishay Intertechnology by 42.0% during the fourth quarter. Bragg Financial Advisors Inc now owns 1,108,069 shares of the semiconductor company's stock worth $18,771,000 after purchasing an additional 327,675 shares during the period. Finally, Mariner LLC boosted its position in Vishay Intertechnology by 15.7% during the fourth quarter. Mariner LLC now owns 57,568 shares of the semiconductor company's stock worth $975,000 after purchasing an additional 7,815 shares during the period. Institutional investors own 93.66% of the company's stock.

Vishay Intertechnology Stock Up 2.4%

The company has a quick ratio of 1.64, a current ratio of 2.70 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $16.18 and a 200-day simple moving average of $15.57. The stock has a market cap of $1.98 billion, a P/E ratio of -22.52 and a beta of 1.13.

Vishay Intertechnology Company Profile

Vishay Intertechnology, Inc manufactures and sells discrete semiconductors and passive electronic components in Asia, Europe, and the Americas. The company operates through Metal Oxide Semiconductor Field Effect Transistors (MOSFETs), Diodes, Optoelectronic Components, Resistors, Inductors, and Capacitors segments.