MALVERN, Pa., Feb. 25, 2026 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced a new series of phototransistor optocouplers that combine a high and linear current transfer ratio (CTR) over temperature with a low forward current of 0.5 mA. Offering high temperature operation up to +125 °C in a choice of four packages — the DIL-4; long creepage LSOP-4; compact SOP-4; and half-pitch SSOP-4 — the Vishay Semiconductors VOx619A series is designed to deliver accuracy and energy efficienc ...

Core Viewpoint - Vishay Intertechnology has launched a new series of ultra-compact thick film chip resistors, the CRCW0201-AT e3 series, which are AEC-Q200 qualified and designed for automotive, industrial, and telecommunications applications, providing a reliable and space-saving solution [1]. Product Features - The CRCW0201-AT e3 series resistors have a miniature footprint of 0.6 mm by 0.3 mm by 0.23 mm, significantly reducing PCB requirements by 50% compared to the next-larger 0402 case size [1][2]. - These resistors deliver a power rating of 0.05 W at +70 °C and an operating voltage of 30 V, with a temperature range from -55 °C to +155 °C, and are available in resistance values from 10 Ω to 1 MΩ [3]. - The devices feature tolerances of ± 1% and ± 5%, and a temperature coefficient of resistance (TCR) of ± 200 ppm/K [3]. Compliance and Manufacturing - The CRCW0201-AT e3 series resistors are RoHS-compliant and halogen-free, with a protective coating for electrical, mechanical, and climatic protection [4]. - They are suitable for automatic soldering processes and feature pure matte tin plating for compatibility with both lead-free and lead-containing soldering [4]. - Samples and production quantities are currently available, with lead times of 12 weeks [4]. Company Overview - Vishay Intertechnology is a major manufacturer of discrete semiconductors and passive electronic components, serving various markets including automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical [5].

Financial Performance - In 2025, the company paid $54.2 million in dividends and repurchased $12.5 million of its stock despite generating negative free cash flow due to capacity expansion plans [222]. - The company intends to maintain its dividend and opportunistically repurchase shares based on U.S. available liquidity in line with its Stockholder Return Policy in 2026 [222]. Cash and Debt Management - As of December 31, 2025, the company had $219 million outstanding under revolving credit facilities, with future borrowings bearing interest at SOFR plus 2.10% [375]. - The company had $515.0 million in cash and cash equivalents and $0.3 million in short-term investments as of December 31, 2025 [376]. - The company has approximately 2.8 million shares remaining from previous repurchase authorizations as of December 31, 2025 [223]. Risk Exposure - A hypothetical 10% adverse movement in foreign currency exchange rates would impact the company's net earnings by approximately $25.5 million as of December 31, 2025 [380]. - A 10% increase or decrease in the costs of raw materials subject to commodity price risk would decrease or increase the company's net earnings by $10.8 million, assuming no impact on selling prices [386]. - The company is exposed to fluctuations in foreign currency exchange rates, interest rates, and commodity prices, managing these risks through established policies and derivative financial instruments [373]. - The company has no outstanding interest rate swap or cap agreements as of December 31, 2025 [374]. - The company is a major consumer of tantalum and silicon wafers, which are subject to price volatility and supply shortages [385].

Core Insights - Vishay Intertechnology, Inc. has launched a new series of AEC-Q200 qualified thick film chip resistors, the RCA-SR e3 series, designed for automotive, industrial, and telecommunications applications [1][8] Product Features - The RCA-SR e3 series resistors are specifically designed for sulfur-containing environments, demonstrating a maximum resistance drift of 1% after 1000 hours at 60 °C, which is superior to competing devices tested for shorter durations [2] - The resistors ensure high stability with ΔR/R ≤ 1% after 1000 hours of rated power at 70 °C [2] - Available in five compact case sizes: 0201, 0402, 0603, 0805, and 1206, with power ratings up to 0.25 W and an operating voltage range from 30 V to 200 V [3] Technical Specifications - The resistance range for the resistors spans from 10 Ω to 10 MΩ, with tolerances of ± 1% and ± 5%, and temperature coefficient of resistance (TCR) of ± 100 ppm/K and ± 200 ppm/K [3][5] - The devices are RoHS-compliant and halogen-free, featuring a protective coating for electrical, mechanical, and climatic protection, and are suitable for various soldering processes [4] Availability - Samples and production quantities of the RCA-SR e3 series are currently available, with lead times of 12 weeks [7]

Core Viewpoint - BofA has lowered the price target for Vishay (VSH) to $15 from $16 and maintains an Underperform rating on the shares, indicating a cautious outlook on the company's performance [1]. Group 1: Price Target and Rating - The price target for Vishay has been reduced to $15 from $16 [1]. - BofA continues to hold an Underperform rating on Vishay shares, reflecting concerns about the company's future performance [1]. Group 2: Management and Market Position - The firm acknowledges management's proactive approach in engaging with auto OEMs and positioning Vishay to capture market share from Nexperia [1]. - There is a need for more data points to build confidence in the sustainability of demand for Vishay's products [1]. Group 3: Earnings and Guidance - Adjustments to estimates have been made following the company's earnings report and guidance, reinforcing the Underperform rating [1].

Core Insights - Vishay Intertechnology reported a strong fourth quarter with a revenue of $801 million, slightly above guidance and up 1.3% sequentially, driven by broad-based growth in industrial power and AI-related applications [4][7][10] - The company experienced a backlog increase of nearly 14% to $1.3 billion, with a book-to-bill ratio of 1.2, indicating strong demand across various segments [1][7] - Management highlighted the visibility of its "Vishay 3.0" initiatives, with orders reaching a three-year high across most product technologies, reflecting improved customer engagement [2][5] Financial Performance - Revenue for Q4 was $801 million, up 1.3% from the previous quarter and 12% year-over-year, primarily driven by volume increases and favorable foreign currency impacts [10][11] - Gross profit was reported at $157 million, resulting in a gross margin of 19.6%, slightly above guidance, despite pressures from elevated material costs [11] - SG&A expenses increased to $142 million, attributed to higher compensation, R&D spending, and legal costs [12] Market Trends - Demand in the automotive sector saw a sequential revenue decline of 3.4%, while Asia automotive revenue increased, indicating regional variations in market performance [8] - Industrial power revenue rose 3.2%, supported by higher shipments related to smart grid infrastructure projects and new industrial programs [8] - By channel, OEM revenue increased by 1.1%, EMS revenue rose by 1.4%, and distribution revenue also increased by 1.4%, with Asia being the largest contributor [9] Capital Expenditure and Future Outlook - Vishay expects capital expenditures to peak in 2026 at $400–440 million, primarily for 12-inch fab investments, while anticipating negative free cash flow due to expansion plans [6][19] - The company plans to return at least 70% of free cash flow to shareholders when available, despite the expected negative cash flow in 2026 [18] - Management guided for Q1 2026 revenue between $800 million and $830 million, with expectations of lower Asia revenue due to Lunar New Year timing [15] Product and Technology Developments - The company highlighted progress in product development, including the release of new silicon carbide MOSFETs aimed at industrial and automotive applications [19] - Management noted ongoing discussions for smart grid infrastructure projects expected to enter production in 2026, indicating a focus on long-term growth opportunities [8][19] Industry Growth and Pricing Strategy - Management maintained that industry growth remains in the mid- to high-single-digit range, with Vishay aiming to outperform this growth [20] - The company implemented price increases tied to rising metals costs starting in Q4, with further actions under evaluation to address pricing pressures [20]

Core Insights - Vishay Intertechnology, Inc. (VSH) reported lower-than-expected earnings for Q4 2025, with earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.02 per share, although this is an improvement from the previous year's break-even earnings [1][9] - The company's revenues for Q4 2025 were $800.9 million, exceeding the Zacks Consensus Estimate of $790 million, and reflecting a year-over-year increase of 12.1% [2][9] Revenue Breakdown - Revenues from MOSFETs, which account for 21.6% of total revenues, were $172.6 million, up 17.7% year-over-year, with a book-to-bill ratio of 1.48 [3] - Diodes generated $154.2 million in revenue (19.3% of total), marking a 9.1% increase year-over-year, with a book-to-bill ratio of 1.09 [4] - Optoelectronics revenues were $55.7 million (7% of total), up 18.8% year-over-year, with a book-to-bill ratio of 1.12 [4] - Resistors contributed $189.4 million (23.6% of total), rising 7% year-over-year, with a book-to-bill ratio of 1.05 [5] - Inductors generated $92.6 million (11.6% of total), up 11% year-over-year, with a book-to-bill ratio of 1.07 [5] - Capacitors accounted for $136.5 million (16.5% of total), increasing 14.4% year-over-year, with a book-to-bill ratio of 1.30 [5] Financial Performance - Adjusted EBITDA for Q4 was $70.3 million, reflecting a 6.2% year-over-year increase, while the adjusted EBITDA margin contracted by 50 basis points to 8.8% [6] - The operating margin improved to 1.8% from a negative 7.9% in the same quarter last year [6] Balance Sheet and Cash Flow - As of December 31, 2025, cash and cash equivalents stood at $515.2 million, up from $444.1 million as of September 27, 2025 [7] - Long-term debt increased to $950.9 million as of September 27, 2025, compared to $919.7 million previously [7] - Operating cash flow for Q4 was $149.4 million, with free cash flow at $54.9 million [7] Q1 2026 Guidance - For Q1 2026, VSH expects revenues between $800 million and $830 million, with the Zacks Consensus Estimate at $797.9 million, indicating an 11.6% year-over-year increase [8] - The anticipated gross profit margin is 19.9% (+/- 50 basis points), with earnings expected to be $0.10 per share, a significant improvement from a loss of $0.03 in the same quarter last year [8]

Core Insights - Vishay Intertechnology, Inc. has launched four new power inductors that outperform competitors in smaller footprints and higher efficiency [1][2] Product Specifications - The new inductors are available in two case sizes: 0806 (2.0 mm x 1.6 mm x 1.2 mm) and 1210 (3.2 mm x 2.5 mm x 1.2 mm) [1] - The inductance values range from 0.24 µH to 4.70 µH, with typical DCR as low as 6.6 mΩ for the IHLL-0806AZ-1Z and IHLL-1210AB-1Z models [2][5] - The devices are designed to operate at temperatures up to +165 °C, which is 10 °C higher than the nearest competing inductor [2] Performance Features - The inductors feature a robust powdered iron body that eliminates air gaps and provides magnetic shielding, enhancing performance over ferrite-based technologies [3] - They are packaged in a lead-free, shielded composite construction that minimizes noise and offers high resistance to thermal and mechanical shocks [3] Applications - The inductors are suitable for a variety of applications including DC/DC converters, noise suppression, and filtering [4] - Specific applications include automotive infotainment, navigation systems, and medical devices, among others [4] Compliance and Availability - The new inductors are RoHS-compliant, halogen-free, and classified as Vishay Green [4] - Samples and production quantities are currently available with a lead time of 10 weeks [5]

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $801 million, slightly above the midpoint of guidance and a 1.3% increase from the third quarter [4][18] - Gross profit was $157 million, resulting in a gross margin of 19.6%, which is modestly above both the midpoint of guidance and the previous quarter [18][19] - GAAP earnings per share was $0.01, compared to a loss of $0.06 in the third quarter and a loss of $0.49 in the fourth quarter of 2024 [21] Business Line Data and Key Metrics Changes - Automotive revenue decreased by 3.4% compared to the third quarter, primarily due to lower pull rates during the holiday weeks [9] - Industrial power revenue increased by 3.2%, driven by shipments of high voltage DC power capacitors and inventory replenishment [10] - Aerospace and defense revenue was slightly down by 1.2%, reflecting the impact of the U.S. government shutdown [12] - Healthcare revenue remained flat compared to the third quarter, with fluctuations tied to customer program milestones [13] - Revenue in the "other" category grew by 10.6%, driven by increased production for AI power management applications [13] Market Data and Key Metrics Changes - Revenue growth for the quarter came entirely from Asia, which grew by 3.6%, while the Americas and Europe were essentially flat due to year-end holiday slowdowns [16] - The book-to-bill ratio ended the quarter at 1.2, up from 1.15 at the end of October [7] - Orders from OEM, distribution, and EMS channels reached three-year highs, indicating strong demand across all regions and technologies [5][6] Company Strategy and Development Direction - The company is executing a five-year strategic plan aimed at driving faster revenue growth, raising profitability, and enhancing capital returns [30] - Significant investments are being made in capacity expansion, particularly at the 12-inch fab, with expected CapEx between $400 million and $440 million for 2026 [30][31] - The company is focusing on innovation, including the release of new products and solutions, particularly in silicon carbide technology for automotive applications [32][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining capacity readiness to fulfill rising demand and expects revenue to increase each quarter in 2026 [34] - The company anticipates mid to high single-digit growth across its key market segments, including industrial power, automotive, aerospace defense, AI, and healthcare [38] - Management noted that customer program visibility is improving, with shippable backlog developing for key markets [34] Other Important Information - The company generated $149 million in operating cash for the fourth quarter, including $62 million from the securitization of accounts receivable [23] - Total CapEx for the quarter was $95 million, with $75 million designated for capacity expansion projects [24] - The company plans to maintain its dividend policy, returning at least 70% of free cash flow to shareholders, despite expecting negative free cash flow due to capacity expansion plans [28][62] Q&A Session Summary Question: What is the current view on industry growth expectations? - Management maintains a view of mid to high single-digit growth across various market segments, including industrial power and automotive [38] Question: How are gross margins expected to trend? - Management indicated that annual contractual negotiations have resulted in less price decrease than historical trends, and they are implementing price increases due to rising material costs [40][41] Question: What is the outlook for automotive demand? - Management noted gains in market share and increasing volumes in automotive, driven by technology developments in electrification and ADAS [46][52] Question: Can you provide details on CapEx and OpEx plans? - The company plans to spend between $400 million and $440 million in CapEx for 2026, focusing on capacity expansion and targeted projects [56][60] Question: Is M&A being considered? - Management stated that M&A is always on the table, with ongoing evaluations in both passive and active segments [63]

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $801 million, slightly above the midpoint of guidance and a 1.3% increase from the previous quarter [4][18] - Gross profit was $157 million, resulting in a gross margin of 19.6%, which is modestly above both the midpoint of guidance and the third quarter [18][19] - GAAP earnings per share was $0.01, compared to a loss of $0.06 in the third quarter and a loss of $0.49 in the fourth quarter of 2024 [21] Business Line Data and Key Metrics Changes - Automotive revenue decreased by 3.4% compared to the third quarter, while industrial power revenue increased by 3.2% [9][10] - Revenue in the healthcare segment was flat compared to the third quarter, with Europe experiencing its strongest quarter in three years [12][13] - The "other" category saw a revenue growth of 10.6% due to increased production for AI power management applications [13] Market Data and Key Metrics Changes - Revenue growth for the quarter came entirely from Asia, which grew by 3.6%, while the Americas and Europe were essentially flat due to year-end holiday slowdowns [16] - The book-to-bill ratio was 1.2, up from 1.15 at the end of October, indicating strong order growth across all regions and channels [7][8] - Backlog at quarter end was $1.3 billion, equating to approximately 4.9 months of sales [8] Company Strategy and Development Direction - The company is executing a five-year strategic plan aimed at driving faster revenue growth, raising profitability, and enhancing capital returns [30] - Significant investments are being made in capacity expansion, particularly at the 12-inch fab, with expected CapEx between $400 million and $440 million for 2026 [30][31] - The company is focused on maintaining capacity readiness, growing share at existing customers, and attracting new customers [34] Management's Comments on Operating Environment and Future Outlook - Management expects mid to high single-digit growth across key market segments, including industrial power, automotive, aerospace defense, AI, and healthcare [38] - The company is optimistic about the demand for power requirements in its five growth segments and anticipates revenue increases each quarter in 2026 [34] - Management highlighted the importance of customer engagement and the positive impacts of Vishay 3.0 on revenue generation [5][34] Other Important Information - The company generated $149 million in operating cash for the fourth quarter, including $62 million from the securitization of accounts receivable [23] - Total CapEx for the quarter was $95 million, with $75 million designated for capacity expansion projects [24] - The company plans to maintain its dividend policy, returning at least 70% of free cash flow to stockholders, despite expecting negative free cash flow due to capacity expansion plans [28][62] Q&A Session Summary Question: What is the current view on industry growth expectations? - Management maintains a view of mid to high single-digit growth across various market segments, with specific expectations for automotive being flat to mid-single digit due to electronic content [38] Question: How are gross margins expected to trend? - Management indicated that annual contractual negotiations resulted in less historical ASP decline, and they have started increasing prices due to higher material costs [40][41] Question: What is the outlook for automotive demand? - Management noted gains in share through negotiations and highlighted four key technology developments driving design activity in the automotive sector [46][52] Question: Can you elaborate on CapEx and OpEx plans? - Management expects CapEx to be in the range of $400 million to $440 million, with significant investments in the 12-inch fab and other targeted projects [56][60] Question: Is M&A being considered? - Management stated that M&A is always on the table, with a focus on both passive and active segments, but no specific plans were disclosed at this time [62][63]