Vishay Intertechnology
VSH
$33.14
-6.41%
Vishay Intertechnology, Inc. is a leading manufacturer of discrete semiconductors and passive electronic components, serving a diverse range of industries including industrial, automotive, computing, and telecommunications. The company distinguishes itself through its broad product portfolio, which includes MOSFETs, diodes, optoelectronic components, resistors, inductors, and capacitors, making it a key supplier to original equipment manufacturers worldwide. Currently, the stock is attracting attention due to a remarkable rally, driven by strong earnings and a broader semiconductor market recovery, with gains spreading from AI leaders to smaller players in electric vehicles and industrial automation. The company's recent financial performance, including a 17.3% year-over-year revenue growth in the latest quarter, has fueled investor optimism, though the stock's high volatility and recent pullback from its peak highlight ongoing debates about valuation sustainability.…
VSH
Vishay Intertechnology
$33.14
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Investment Opinion: Should I buy VSH Today?
Based on the analysis, I rate VSH as a Hold. The consensus Buy rating and average target of $38.25 provide a modest 16.7% upside, but the high volatility and negative profitability metrics warrant caution. The thesis is that Vishay is a cyclical recovery play with strong revenue momentum, but the market has already priced in much of the recovery, limiting upside.
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VSH 12-Month Price Forecast
The AI model sees a balanced risk-reward for VSH. The low PS ratio and revenue acceleration are positive, but the negative profitability and high volatility introduce significant uncertainty. The stock is likely to trade in a wide range, with the base case of $38.25 being the most probable. To upgrade to bullish, we would need to see consistent quarterly profits and positive FCF; to downgrade to bearish, a break below $28 would signal a trend reversal.
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Vishay Intertechnology's 12-month outlook, with a consensus price target around $39.00 and implied upside of +17.7% versus the current price.
Average Target
$39.00
0 analysts
Implied Upside
+17.7%
vs. current price
Analyst Count
—
covering this stock
Price Range
$26 - $45
Analyst target range
Analyst coverage is limited, with only 4 analysts providing ratings, and the consensus recommendation is 'Buy' with a mean rating of 2.4 (where 1 is Strong Buy and 5 is Sell). The average target price is $38.25, implying an upside of approximately 16.7% from the current price of $32.78. The target range spans from a low of $28.00 to a high of $45.00, with the high target suggesting potential for further growth if the company continues to execute on its recovery, while the low target reflects risks such as margin compression or a slowdown in end-market demand. Recent institutional actions have been mixed, with B of A Securities maintaining an Underperform rating, while JP Morgan holds a Neutral stance, indicating some caution among analysts despite the overall Buy consensus.
Bulls vs Bears: VSH Investment Factors
Vishay presents a compelling turnaround story with strong revenue growth and a discounted PS ratio, but the extreme volatility and negative profitability metrics temper the bullish case. The bull case is supported by accelerating revenue and analyst upside, while the bear case is anchored by high volatility, negative FCF, and a PEG ratio that suggests growth is fully priced. The most critical tension is whether the company can convert its revenue recovery into sustainable profitability; if margins expand, the stock could re-rate higher, but if not, the current valuation may prove too rich. Overall, the evidence slightly favors the bulls given the strong revenue momentum and low PS ratio, but the risk is substantial.
Bullish
- Strong Revenue Growth: Q1 2026 revenue grew 17.3% YoY to $839.2M, accelerating from prior quarters ($800.9M in Q4, $790.6M in Q3), indicating a clear upward trajectory driven by broad-based demand across segments.
- Undervalued on Sales: PS ratio of 0.64 is well below the semiconductor industry average, suggesting the market is not fully pricing in the company's sales recovery, offering potential upside if margins improve.
- Analyst Upside Potential: Consensus Buy rating with an average target of $38.25 implies ~16.7% upside from the current price of $32.78, and the high target of $45 suggests even greater potential if execution continues.
- Positive Earnings Trajectory: After a loss-making 2025, Q1 2026 returned to profitability with EPS of $0.05, and forward PE of 20.05 implies expected EPS of $1.64, signaling a strong earnings recovery.
Bearish
- Extreme Volatility and Drawdown: Beta of 1.826 and a max drawdown of -53.84% highlight high risk; the stock has already pulled back ~53% from its 52-week high of $69.47, indicating significant price instability.
- Negative Profitability Metrics: TTM EPS is -$0.0046, and net margin is -0.29%, showing that despite revenue growth, the company has struggled to generate consistent profits, with operating margin only 1.85%.
- High Valuation on Forward Earnings: PEG ratio of 3.08 suggests that the expected earnings growth is already priced in, leaving little room for error; if growth disappoints, the stock could face multiple compression.
- Mixed Analyst Sentiment: Despite a Buy consensus, B of A Securities maintains an Underperform rating and JP Morgan holds Neutral, indicating that not all analysts are convinced of the recovery's sustainability.
VSH Technical Analysis
Vishay's stock has experienced a dramatic uptrend over the past year, with a 1-year price change of +138.2%, significantly outperforming the S&P 500's +21.5% gain. The current price of $32.78 sits at approximately 47% of its 52-week range (low $11.77, high $69.47), indicating a substantial pullback from the highs. This positioning suggests that while the long-term trend is bullish, the stock has corrected sharply from its peak, potentially offering a value opportunity or signaling a trend reversal depending on further price action.
Beta
1.83
1.83x market volatility
Max Drawdown
-53.8%
Largest decline past year
52-Week Range
$12-$69
Price range past year
Annual Return
+127.1%
Cumulative gain past year
| Period | VSH Return | S&P 500 |
|---|---|---|
| 1m | -25.8% | +2.4% |
| 3m | -1.5% | +4.7% |
| 6m | +64.1% | +11.7% |
| 1y | +127.1% | +21.3% |
| ytd | +116.7% | +13.4% |
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VSH Fundamental Analysis
Vishay's revenue has shown a strong recovery, with the most recent quarter (Q1 2026) reporting $839.2 million, up 17.3% year-over-year from $715.2 million in Q1 2025. This growth marks a significant acceleration from the prior quarters, which saw revenue of $800.9 million in Q4 2025, $790.6 million in Q3 2025, and $762.3 million in Q2 2025, indicating a clear upward trajectory. The growth is broad-based across segments, with resistors (the largest segment) contributing $203.7 million, followed by MOSFETs at $174.0 million and diodes at $163.7 million, reflecting strength in industrial and automotive demand.
Quarterly Revenue
$839242000.0B
2026-04
Revenue YoY Growth
+17.3%
YoY Comparison
Gross Margin
21.0%
Latest Quarter
Free Cash Flow
$-90506000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is VSH Overvalued?
Given that Vishay's trailing twelve-month net income is negative (EPS of -$0.0046), the price-to-sales (PS) ratio is the most appropriate valuation metric. The current PS ratio is 0.64, which is significantly lower than the industry average for semiconductor companies, suggesting the stock is trading at a discount. The forward PE ratio of 20.05 indicates that the market expects earnings to recover strongly, as the company is projected to generate positive EPS of $1.64 in the next fiscal year, implying a PEG ratio of 3.08, which may suggest the growth expectations are already priced in.
PE
-219.2x
Latest Quarter
vs. Historical
Low-End
5-Year PE Range 5x~33x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
9.1x
Enterprise Value Multiple
Investment Risk Disclosure
Financial risks are prominent: Vishay's TTM net income is negative (EPS -$0.0046), and free cash flow is -$90.5M, indicating cash burn despite revenue growth. The debt-to-equity ratio of 0.56 is moderate, but interest expenses of ~$10M per quarter could pressure earnings if rates stay high. Operating margin is thin at 1.85%, leaving little buffer for cost increases or demand shocks. Revenue concentration in cyclical end-markets like automotive and industrial adds earnings volatility, as seen in the 2024 losses when revenue declined.