Vishay Intertechnology, Inc. (NYSE: VSH) reached a new 52-week high on February 4, 2024, trading at $21.19 before settling at $20.72. During the trading session, approximately 3.6 million shares exchanged hands, reflecting a notable increase in market activity. The stock had previously closed at $20.67, indicative of a positive trend in investor sentiment.
Analysts Offer Mixed Reviews
Equities analysts have weighed in on Vishay’s performance, providing a range of ratings and target prices. Weiss Ratings maintained a “sell (d)” rating on January 21, 2024, expressing caution regarding the stock’s future prospects. In contrast, Bank of America raised its price target for Vishay from $14.00 to $16.00 while assigning an “underperform” rating. Meanwhile, JPMorgan Chase & Co. increased its target from $14.00 to $20.00, suggesting a “neutral” stance on the stock. Currently, two analysts have assigned a Hold rating and two have issued Sell ratings, leading to an average rating of “Reduce” with an average price target of $18.00, according to data from MarketBeat.com.
Quarterly Earnings and Dividend Announcement
Vishay Intertechnology recently reported its quarterly earnings, revealing earnings per share (EPS) of $0.01 for the quarter ending February 4, 2024. This figure fell short of analysts’ expectations, which had set the consensus at $0.02. The company’s revenue for the quarter reached $800.92 million, surpassing estimates of $790.47 million, marking a year-over-year increase of 12.1%. Despite the revenue growth, the company recorded a negative net margin of 0.29% and a negative return on equity of 0.32%.
On December 12, 2023, Vishay announced a quarterly dividend of $0.10 per share, payable to shareholders of record as of December 3, 2023. This translates to an annualized dividend of $0.40, yielding approximately 2.0%. Notably, the company has a payout ratio of -571.43%, highlighting its ongoing challenges in profitability.
Institutional Investment Trends
Several institutional investors have recently adjusted their holdings in Vishay Intertechnology. Jones Financial Companies Lllp significantly increased its stake by 709.5% during the third quarter, acquiring a total of 1,797 shares valued at $27,000. Quarry LP also entered a new position, investing $39,000 during the same period. Additionally, Mitsubishi UFJ Trust & Banking Corp. and CWM LLC made new investments worth $87,000 and increased their holdings by 63.4%, respectively. Currently, institutional investors hold a commanding 93.66% of the company’s stock, which underscores the confidence some large stakeholders have in Vishay’s potential for future growth.
Vishay Intertechnology, founded in 1962, is a leading global manufacturer of discrete semiconductors and passive electronic components. Its diverse product portfolio serves various industries, including automotive, computing, consumer electronics, telecommunications, medical, and military/aerospace markets. The company specializes in components critical for power management, signal conditioning, and circuit protection, catering to both standard and custom designs for original equipment manufacturers worldwide.
