VISHAY INTERTECHNOLOGY INC — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Vishay reported Q2 2026 GAAP revenues of $888.6M (adjusted $918.6M), up 5.8% YoY, with gross margin 23.3% GAAP (22.6% adjusted). Operating margin improved to 6.0% GAAP from 2.6% in Q1 2026. Diluted EPS $0.19 GAAP. For Q3 2026, management guides revenues $945M–$975M and gross margin 24.0% ±50bps. Book-to-bill 1.32; backlog 6.1 months. Separately, Vishay completed a follow-on equity offering netting $830.3M in proceeds (shown in financing cash flow for H1 2026), reducing debt from $950.9M (12/31/2025) to $972.3M current+long-term (7/4/2026). Cash rose to $1,297M from $515M.
Why this rating
Strong sequential/YoY growth, margin expansion, and bullish Q3 guidance signal demand momentum. $830M equity raise reduces leverage. However, relative to $2.0B market cap, operational beat is moderate; no transformational M&A or crisis. Typical cyclical semiconductor recovery.
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