Core Insights - Vishay Intertechnology, Inc. has launched a new series of Class 1 radial-leaded high voltage single layer ceramic disc capacitors designed for industrial and medical applications, which feature low power losses and high reliability [1][2]. Product Features - The HVCC Class 1 series capacitors exhibit a capacitance loss of less than 25% at 15 kV, which is significantly lower than Class 2 devices, and have a dissipation factor (DF) of less than 1.0% at 1 kHz, which is 0.5% lower than competitors [2]. - Capacitance range for these devices is from 100 pF to 1 nF with standard tolerances of ±10%, and they can operate at voltages of 15 kVDC within a temperature range of -30 °C to +85 °C [3]. - The capacitors are constructed with a silver-plated ceramic disc and tinned copper-clad steel connection leads, available in diameters of 0.65 mm and 0.80 mm, and comply with RoHS standards [3]. Availability - Samples and production quantities of the HVCC Class 1 series are currently available, with lead times of 12 weeks for orders [4]. Company Overview - Vishay Intertechnology is recognized as one of the largest manufacturers of discrete semiconductors and passive electronic components, serving various markets including automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical [5].

Core Insights - Vishay Intertechnology has launched a new AEC-Q200 qualified DC-Link metallized polypropylene film capacitor, the MKP1848e, designed for automotive, energy, and industrial applications, capable of operating at high temperatures up to +125 °C [1][2] Group 1: Product Features - The MKP1848e capacitor offers a rated capacitance range from 1 µF to 140 µF and low equivalent series resistance (ESR) down to 1.0 mΩ, with rated voltages from 500 VDC to 1300 VDC [3] - It provides 25% higher ripple current density compared to previous-generation solutions of the same volume, and its compact design allows for volume reductions of up to 40% and 15% at 500 VDC and 900 VDC, respectively [3] - The capacitor can withstand operating voltages from 250 VDC to 800 VDC at +125 °C for a limited time and has high thermal shock capabilities, enduring 1000 temperature cycles from -40 °C to +125 °C [4] Group 2: Applications - The MKP1848e is suitable for automotive power conversion applications, including on-board chargers, power trains, HVAC systems, e-compressors, and DC/DC converters [2] - It also meets the stringent requirements for energy and industrial power conversion applications such as fast chargers, solar inverters, rectifiers for hydrogen electrolyzers, battery storage systems, motor drives, and uninterruptible power supplies (UPS) [2] Group 3: Availability - Samples and production quantities of the MKP1848e are currently available, with lead times of 10 weeks [5]

Core Insights - Vishay Intertechnology has introduced two new series of Automotive Grade ESD protection diodes, the VGSOTxx and VGSOTxxC, which feature enhanced current and power ratings in a SOT-23 package [1][5]. Product Features - The new diodes support a voltage range of 3.3 V to 36 V and offer peak pulse power ratings up to 540 W and current ratings up to 44 A at an 8/20 µs pulse [1]. - The VGSOTxx series serves as unidirectional ESD protection devices, while the VGSOTxxC series can function as bidirectional devices due to their dual, common anode configuration [3]. - The devices are RoHS-compliant, halogen-free, and meet ESD immunity standards according to IEC 61000-4-2 and ISO 10605, with a discharge capability of ± 30 kV [4]. Applications - These ESD protection diodes are suitable for a wide range of applications, including automotive electronics, fuel cells, smart systems, industrial automation, consumer appliances, and medical instrumentation [2]. Market Position - Vishay Intertechnology is recognized as a leading manufacturer of discrete semiconductors and passive electronic components, serving various markets such as automotive, industrial, and telecommunications [6].

Core Viewpoint - The article highlights the capabilities and offerings of a chip distribution company, emphasizing its extensive inventory, quality control measures, and customer service efficiency. Group 1: Inventory and Facilities - The company operates a 1,600 square meter smart warehouse with over 1,000 stock models and around 100 brands, holding a total of 50 million chips valued at over 100 million [1] - An independent laboratory is established in Shenzhen for quality control (QC) inspections on every material [1] Group 2: Procurement and Sales - The company is actively seeking specific chip models, including VISHAY, ADI, and ST brands, with quantities ranging from 3,000 to 21,000 units [2] - It offers advantageous materials for sale at discounted prices, including significant quantities of chips from brands like Realtek, MPS, and Renesas, with stock levels reaching up to 1.7 million pieces [3] Group 3: Customer Engagement and Service - The company has served a cumulative total of 20,000 users and can complete transactions in as fast as half a day [4] - It promotes a mini-program for factory surplus materials, indicating a focus on facilitating sales for hard-to-sell inventory [5]

Core Insights - Vishay Intertechnology, Inc. has launched a new series of industrial-grade, multi-turn, surface-mount cermet trimmers, the TSM41 series, designed for space-constrained applications in harsh environments [1][2] Product Features - The TSM41 series features a compact 4 mm x 4 mm footprint, which is 42% smaller than previous-generation devices, allowing for optimized package density and board space savings [2] - The devices operate within a wide temperature range of -55 °C to +140 °C and are IP67 sealed, ensuring reliability in various applications [1][3] - The trimmers offer a resistance range of 10 Ω to 1 MΩ and a power rating of 0.25 W at +85 °C, with both top and side adjustment styles available for design flexibility [2] Production and Availability - Samples and production quantities of the TSM41 series are currently available, with lead times of 15 weeks [4] - The design allows for direct mounting to PCBs, facilitating automated assembly processes and enhancing production efficiency [3] 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]

Core Insights - Vishay Intertechnology, Inc. (VSH) reported a second-quarter 2025 loss of 7 cents per share, missing the Zacks Consensus Estimate of earnings of 2 cents and down from earnings of 17 cents in the same quarter last year [1][7] - Revenues for the second quarter were $762.3 million, exceeding the Zacks Consensus Estimate by 0.3% and reflecting a year-over-year increase of 2.9% [1][7] Financial Performance - The company's weak second-quarter performance led to a 14.05% decline in share price, with a year-to-date drop of 17.8%, underperforming the Zacks Computer and Technology sector's growth of 10.9% [2] - VSH has a mixed earnings surprise history, missing the Zacks Consensus Estimate in three of the last four quarters, with an average negative surprise of 149.2% [2] Revenue Breakdown - Revenues from MOSFETs (19.5% of total revenues) were $148.6 million, down 4.19% year over year, with a book-to-bill ratio of 1.00 [3] - Diodes (19.4% of total revenues) generated $147.9 million, up 1.1% year over year, with a book-to-bill ratio of 0.93 [3] - Optoelectronics (7.1% of total revenues) revenues were $54.1 million, up 2.1% year over year, with a book-to-bill ratio of 1.05 [4] - Resistors (25.6% of total revenues) brought in $194.8 million, up 8.5% year over year, with a book-to-bill ratio of 0.91 [4] - Inductors (12.6% of total revenues) revenues were $95.7 million, up 1.7% year over year, with a book-to-bill ratio of 0.91 [4] - Capacitors (15.9% of total revenues) generated $121.1 million, up 6.8% year over year, with a book-to-bill ratio of 1.40 [5] Profitability Metrics - Adjusted EBITDA for the second quarter was $63.5 million, down 28.2% year over year, with an adjusted EBITDA margin of 8.3%, a contraction of 360 basis points [5][7] - The operating margin was reported at 2.9%, down from 5.1% in the year-ago quarter [5][7] Balance Sheet and Cash Flow - As of June 28, 2025, VSH's cash and cash equivalents were $473.9 million, down from $609.4 million as of March 29, 2025 [6] - Long-term debt decreased to $914.5 million from $988.2 million as of March 29 [6] - The company reported net cash used in operating activities of $8.8 million and a negative free cash flow of $73.2 million for the quarter [6] Guidance - For the third quarter, Vishay Intertechnology expects revenues of $775 million (plus or minus $20 million), with the Zacks Consensus Estimate for revenues at $752.4 million, indicating a year-over-year increase of 2.3% [8] - The anticipated gross profit margin is 19.7% (plus or minus 50 basis points), while the Zacks Consensus Estimate for earnings is 3 cents per share, reflecting a year-over-year decline of 62.5% [8]

Core Insights - Vishay Intertechnology, Inc. has introduced two new automotive-grade edge-wound, through-hole inductors, IHDM-1107BBEV-2A and IHDM-1107BBEV-3A, featuring powdered iron alloy core technology and soft saturation current up to 422 A [1][2] Product Features - The inductors provide low DCR down to 0.22 mΩ, enhancing efficiency by minimizing power losses [2] - Compared to ferrite-based solutions, these inductors offer 30% higher rated current and saturation current levels at +125 °C [2] - They have a high isolation voltage rating of up to 350 V, making them suitable for high current and high temperature power applications [3] Applications - The inductors are ideal for use in DC/DC converters, inverters, on-board chargers, domain control units, and filters for motor and switching noise suppression in internal combustion, hybrid, and full-electric vehicles [3] Customization and Compliance - Vishay offers customization options for inductance, DCR, rated current, and voltage rating, along with various mounting options [4] - The devices are RoHS-compliant, halogen-free, and adhere to Vishay Green standards [4] Technical Specifications - IHDM-1107BBEV-2A: Inductance ranges from 0.47 to 7.5 µH, with a typical DCR of 0.22 to 2.11 mΩ and saturation current from 96 to 343 A [5] - IHDM-1107BBEV-3A: Inductance ranges from 0.68 to 12.0 µH, with a typical DCR of 0.22 to 2.11 mΩ and saturation current from 49 to 202 A [5] Availability - Samples and production quantities of the new inductors are available now, with lead times of 14 weeks [7]

Financial Data and Key Metrics Changes - Revenue for the second quarter increased by 7% sequentially to $762 million, aligning with guidance, driven by growth in both semiconductors and passive components [7][22] - Gross profit was $149 million, resulting in a gross margin of 19.5%, at the high end of guidance, primarily due to increased volume [24] - Book to bill ratio was positive at 1.02, marking the third consecutive quarter above one, with a backlog of $1.2 billion [23][24] Business Line Data and Key Metrics Changes - Automotive revenue rose by 4% due to improved demand from tier one customers and new ADAS programs [11] - Industrial segment revenue increased by 9%, driven by normalization of inventories and demand for smart grid infrastructure [12] - Aerospace defense revenue grew by 5%, while medical end markets saw a 4% increase, reflecting stronger demand [15][16] Market Data and Key Metrics Changes - Revenue in Asia grew by 12%, driven by AI power requirements and smart grid projects, while The Americas saw a 7% increase due to improved automotive and industrial demand [20] - Distribution revenue grew by 11%, contributing significantly to total revenue growth, while OEM revenue remained flat [18][19] Company Strategy and Development Direction - The company is focused on capacity expansion under the Vishay 3.0 initiative, with approximately $775 million invested over the past two and a half years [9][10] - Strategic initiatives include strengthening customer relationships, expanding product portfolios, and advancing silicon carbide technology [10][41] - The company plans to invest between $300 million to $350 million in 2025, with a significant portion allocated to high-growth product lines [37] Management's Comments on Operating Environment and Future Outlook - Management noted that the inventory correction cycle is largely behind, with normalized inventory levels for passives and some excess in semiconductors [7] - Positive demand momentum is expected to continue, particularly in smart grid infrastructure and AI applications, with a stronger second half of the year anticipated [45][46] - The company is preparing for a market upturn, with increased backlog and capacity readiness to meet customer demand [45][46] Other Important Information - The company reported a negative free cash flow of $73 million for the quarter, attributed to capacity expansion investments and tax payments [31][32] - The effective tax rate is not meaningful at low levels of pre-tax income, with expectations for normalization as profitability returns [27][35] Q&A Session Summary Question: Impact of Newport fab on gross margin - The Newport fab had a lower than expected impact on gross margin in Q2, with guidance for Q3 indicating a range of 160 to 185 basis points [49][50] Question: MOSFET gross margins decline - MOSFET gross margins declined due to manufacturing inefficiencies, which are expected to improve in Q3 with increased IC sales [51][52] Question: US tariff impact - Less than 4% of products are manufactured in China and returned to the US, indicating a minimal impact from tariffs on overall revenue [55] Question: Inorganic growth and M&A opportunities - The company is actively looking for M&A opportunities, particularly in the semiconductor sector, to enhance customer presence and fill portfolio gaps [56][58] Question: Visibility and backlog for Q3 - The company is seeing a faster building of backlog and anticipates a stronger second half of the year compared to the first half [64][65] Question: Customer demand and inventory management - Customers are still cautious in planning demand, with a significant portion of orders for quick delivery, indicating a transition from an inventory-heavy market [67][68] Question: AI customer expansion and revenue metrics - The customer count for AI applications is growing, with a focus on expanding the part count and customer diversity [72][73] Question: Slipping customer programs - Adjustments in customer programs were due to design changes, impacting planned orders [76][77]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 grew sequentially by 7% to $762 million, in line with guidance, driven by growth in both semiconductors and passive components [7][22] - Gross profit was $149 million, resulting in a gross margin of 19.5%, at the high end of guidance, primarily due to increased volume [24] - Book to bill ratio was positive at 1.02, marking the third consecutive quarter above one, with a backlog of $1.2 billion [23][24] Business Line Data and Key Metrics Changes - Automotive revenue increased by 4% due to improved demand from tier one customers and new ADAS programs [11] - Industrial segment revenue rose by 9%, driven by normalization of inventories and demand for smart grid infrastructure [12] - Aerospace defense revenue increased by 5%, while medical end markets saw a 4% growth, reflecting stronger demand in implantables [15][16] Market Data and Key Metrics Changes - Revenue in Asia grew by 12%, driven by AI power requirements and smart grid projects [20] - The Americas saw a 7% increase in revenue, supported by improved automotive and industrial demand [20] - Europe remained flat due to fewer workdays and inventory corrections [20] Company Strategy and Development Direction - The company is executing a five-year strategic plan, Vishay 3.0, focusing on capacity expansion and innovation in high-growth product lines [6][37] - Significant investments of approximately $775 million have been made to add capacity for high-growth, higher-profit products [8] - The company aims to enhance its presence in emerging markets such as e-mobility and sustainability [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the inventory correction cycle is largely behind, with normalized inventory levels for passives and some excess in semiconductors [7] - Positive demand momentum is expected to continue, particularly in smart grid infrastructure and AI applications [8][46] - The company anticipates a stronger second half of the year compared to the first half, with backlog building at a faster rate [44][46] Other Important Information - The company reported a negative free cash flow of $73 million for the quarter, attributed to capacity expansion investments and tax payments [31] - The effective tax rate is not meaningful at low levels of pre-tax income, but a normalized rate is expected as profitability returns [27][35] - The company plans to maintain its dividend and opportunistically repurchase shares based on available liquidity [35][32] Q&A Session Summary Question: Impact of Newport fab on gross margin - The Newport fab had a lower than expected negative impact of 160 basis points on gross margin in Q2, with guidance for Q3 set at 160 to 185 basis points [50][51] Question: MOSFET gross margins decline - MOSFET gross margins declined due to manufacturing inefficiencies, which are expected to improve in Q3 with increased IC sales [53][54] Question: US tariff impact - Less than 4% of products are manufactured in China and returned to the US, indicating a minimal impact from tariffs [56][57] Question: Inorganic growth and M&A opportunities - The company is actively looking for M&A opportunities, particularly in the semiconductor sector, to enhance customer presence [58][60] Question: Visibility on Q3 and backlog growth - The company is seeing a faster backlog build and anticipates a stronger second half of the year, with Q4 expected to outperform Q3 [64][66] Question: Customer demand and inventory management - Customers are still cautious in planning demand, with a significant portion of orders for quick delivery, indicating a transition from an inventory-heavy market [68][70] Question: AI customer expansion - The company has seen significant growth in AI customer count and is expanding applications beyond MOSFETs to include a broader portfolio [73][74] Question: Changes in customer programs - Adjustments in customer programs were noted due to design changes, impacting planned orders [76][78]

Core Insights - Vishay Intertechnology reported a quarterly loss of $0.07 per share, missing the Zacks Consensus Estimate of $0.02, and down from earnings of $0.17 per share a year ago, representing an earnings surprise of -450.00% [1] - The company posted revenues of $762.25 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 0.30%, and up from $741.24 million year-over-year [2] - Vishay shares have declined approximately 5.5% year-to-date, contrasting with the S&P 500's gain of 7.1% [3] Revenue and Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.03 on revenues of $752.4 million, and for the current fiscal year, it is $0.10 on revenues of $2.95 billion [7] - The estimate revisions trend for Vishay was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Semiconductor - Discretes industry, to which Vishay belongs, is currently ranked in the top 41% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8] - Another company in the same industry, Wolfspeed, is expected to report a quarterly loss of $0.72 per share, with revenues projected at $189.25 million, down 5.7% year-over-year [9]