Vishay Intertechnology (NYSE:VSH) Announces Earnings Results, Beats Expectations By $0.04 EPS

Vishay Intertechnology (NYSE:VSH) issued its quarterly earnings data on Wednesday. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04, FiscalAI reports. Vishay Intertechnology had a return on equity of 0.22% and a net margin of 0.07%.The business had revenue of $918.58 million for the quarter, compared to analysts’ expectations of $897.03 million. During the same period last year, the business earned ($0.07) EPS. The business’s revenue was up 16.6% on a year-over-year basis.

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

• Strong Q2 performance: Adjusted revenue rose 9.5% sequentially and 21% year over year to $919 million, exceeding guidance, while book-to-bill reached 1.32 and backlog increased 18% to $1.9 billion.
• Demand is broadening across industrial, AI, automotive, aerospace and defense, healthcare, and communications, with rising customer counts, market-share gains, and increasing demand for Western supply. AI-related orders and aerospace-defense programs are driving particularly strong bookings.
• Profitability improved as higher volumes, pricing, channel management, and cost initiatives lifted adjusted gross margin to 22.6% and adjusted operating margin to 5.8%; Vishay now expects to reach its 24% quarterly gross-margin goal in Q3, ahead of schedule.
• The company raised its Q3 outlook to $945 million–$975 million of revenue and expects continued capacity expansion, including foundry support for AI products, polymer capacitor investments, and progress toward production at its German 12-inch fab in mid-2027.
• Vishay expects negative free cash flow in 2026 because of heavy capacity-expansion spending, while its recent $830 million equity offering increased the share count and diluted existing shareholders; the company also continues to face elevated tax rates and rising metals, materials, and logistics costs.

Vishay Intertechnology Stock Down 11.1%

Shares of VSH stock traded down $4.30 during trading hours on Wednesday, hitting $34.55. 6,521,204 shares of the company’s stock traded hands, compared to its average volume of 4,601,823. The company has a quick ratio of 1.53, a current ratio of 2.64 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $49.24 and its two-hundred day simple moving average is $32.44. Vishay Intertechnology has a 12-month low of $11.77 and a 12-month high of $69.47. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 3,445.50 and a beta of 1.81.

Vishay Intertechnology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, June 18th. Vishay Intertechnology’s dividend payout ratio is 4,000.00%.

Analyst Ratings Changes

Several research firms have commented on VSH. Bank of America increased their price objective on shares of Vishay Intertechnology from $18.00 to $28.00 and gave the company an “underperform” rating in a research note on Thursday, May 14th. Zacks Research downgraded Vishay Intertechnology from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Needham & Company LLC began coverage on shares of Vishay Intertechnology in a research report on Tuesday. They issued a “buy” rating and a $45.00 price objective on the stock. Weiss Ratings upgraded Vishay Intertechnology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen lowered Vishay Intertechnology from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.25.

Hedge Funds Weigh In On Vishay Intertechnology

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in Vishay Intertechnology in the 3rd quarter worth about $39,000. Empowered Funds LLC purchased a new position in Vishay Intertechnology in the fourth quarter worth about $57,000. Amundi bought a new position in shares of Vishay Intertechnology in the fourth quarter worth approximately $164,000. Entropy Technologies LP purchased a new stake in shares of Vishay Intertechnology during the third quarter valued at approximately $182,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Vishay Intertechnology during the third quarter valued at approximately $198,000. 93.66% of the stock is currently owned by institutional investors.

Key Headlines Impacting Vishay Intertechnology

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

• Positive Sentiment: Second-quarter results exceeded expectations. Vishay reported adjusted EPS of $0.19, compared with the $0.15 analyst consensus and a loss of $0.07 in the prior-year quarter. Revenue reached approximately $918.6 million, above expectations of about $897 million, while sales increased 16.6% year over year. Vishay earnings report
• Positive Sentiment: Demand indicators and the near-term outlook improved. Backlog reportedly rose to about $1.88 billion, with a 1.32 book-to-bill ratio. Management cited stronger pricing and improving demand in industrial, artificial intelligence, automotive, aerospace, and defense markets. Third-quarter revenue guidance of $945 million to $975 million also exceeded the approximately $925.6 million consensus estimate. Vishay second-quarter results
• Positive Sentiment: Analyst coverage was supportive. Needham initiated coverage with a Buy rating and a $45 price target, while Raymond James began coverage with an Outperform rating and a $40 target. Needham analyst coverage
• Neutral Sentiment: Vishay introduced TSOP15300 infrared receiver modules for consumer electronics. The product expands its portfolio, but the financial impact is unlikely to materially affect the stock immediately. TSOP15300 product announcement
• Negative Sentiment: Capital-structure and cash-flow concerns likely drove the selloff. Vishay’s July equity offering added approximately 17.25 million shares, raising dilution concerns. The company also reported negative year-to-date free cash flow as it invests heavily in capacity, making investors question how quickly stronger demand will translate into cash generation.
• Negative Sentiment: The earnings beat may have been largely anticipated after VSH’s earlier rally. Consequently, investors appear to be selling the stock on the gap between strong operating results and concerns over dilution, elevated expectations, and near-term cash requirements.

Vishay Intertechnology Company Profile

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.