Vishay Intertechnology, Inc. (VSH) Stock Price & How to Invest
Short answer
VSH is Vishay Intertechnology, one of the world's largest makers of discrete semiconductors and passive components (resistors, capacitors, inductors, diodes). It is a cyclical, dividend-paying industrial-tech name whose fortunes track the electronics inventory cycle and its multi-year Vishay 3.0 capacity expansion, so investors tend to weigh a recovering order book against thin margins and heavy capital spending.
VSH stock price
As of 2026-07-08, Vishay Intertechnology, Inc. (VSH) last closed at $42.19, up 139.6% over the past year. Over the past 52 weeks it has traded between $11.82 and $64.90.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Vishay Intertechnology, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Vishay Intertechnology, Inc. (VSH) do?
Vishay Intertechnology designs and manufactures one of the industry's broadest portfolios of discrete semiconductors (diodes, MOSFETs, optoelectronics) and passive electronic components (resistors, capacitors, inductors). Its parts are designed into automotive, industrial, computing, telecom, military, aerospace, medical, and consumer electronics, where they are typically low-cost but essential building blocks. The business is deeply cyclical: demand rises and falls with the broader electronics inventory cycle, and Vishay competes on breadth, reliability, and long-standing customer design wins rather than on any single high-margin product.
The investment picture centers on a recovery off a cyclical trough combined with the multi-year Vishay 3.0 growth strategy, which is expanding manufacturing capacity to capture structural demand from electrification and industrial automation. In Q1 2026 the company returned to GAAP profitability on higher revenue and a strong book-to-bill ratio, signaling improving demand. The tension for investors is that this recovery is being funded by elevated capital spending that pressures near-term free cash flow and margins, so the case rests on whether the added capacity and rising backlog translate into sustained earnings rather than another cyclical peak.
What's driving Vishay Intertechnology, Inc. (VSH)?
1. Cyclical demand recovery
Q1 2026 revenue of roughly $839 million was up about 17% year over year, and the company returned to profitability after a prior-year loss. A total book-to-bill ratio of about 1.34 (roughly 1.47 for semiconductors and 1.23 for passives) points to orders outpacing shipments as the electronics inventory cycle turns up.
2. Vishay 3.0 capacity expansion
Management is investing heavily to expand manufacturing capacity under its Vishay 3.0 strategy, aiming to capture structural demand from electrification, EVs, and industrial automation. The company reported roughly 5.7 months of backlog at quarter-end, which management frames as validation of those capacity bets. The payoff depends on filling that new capacity at healthy utilization.
3. Diversified end markets and product breadth
Vishay sells into automotive, industrial, computing, telecom, military, aerospace, medical, and consumer segments, spreading exposure across many customers and applications. Its broad catalog of discrete semiconductors and passive components makes it a one-stop supplier for many designs. This diversification cushions the impact of weakness in any single end market.
4. Margin and pricing leverage
Gross margin was around 21% in Q1 2026 with guidance near 22% for the following quarter, well below peak-cycle levels. As volumes recover and new capacity ramps, operating leverage could lift margins, and firmer pricing in some passive categories may help. The degree of margin recovery is a key swing factor for earnings.
What are the risks to Vishay Intertechnology, Inc. (VSH)?
Vishay is highly cyclical, so a stall in the electronics recovery or renewed inventory destocking could quickly reverse the order-book strength. The Vishay 3.0 expansion carries execution and timing risk: heavy capital spending pressures free cash flow, and new capacity coming online into a soft market would hurt utilization and margins. Competition from larger and better-capitalized passive-component and semiconductor makers can constrain pricing. The company also faces exposure to global manufacturing costs, tariffs, and currency swings given its international operations. Finally, its dividend has at times not been covered by earnings during trough periods, which is a reminder of how thin cyclical profitability can be.
How is Vishay Intertechnology, Inc. (VSH) valued? (approximate, MAY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Vishay Intertechnology, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$3.1 billion
- Q1 2026 revenue: ~$839 million (up ~17% YoY)
- Q1 2026 GAAP EPS: ~$0.05
- Q1 2026 gross margin: ~21%
- Market cap: ~$2.3 to $2.7 billion
- Quarterly dividend: ~$0.10 per share (~0.7% yield)
Vishay returned to profitability in Q1 2026 after a prior-year loss, so trailing earnings-based multiples are distorted by the recent trough and are best read alongside forward estimates. The stock trades around an enterprise value in the high-$2-billion range against roughly $3 billion in annual revenue. Valuation here is largely a bet on how much of the improving book-to-bill and Vishay 3.0 capacity converts into normalized margins.
Who competes with Vishay Intertechnology, Inc. (VSH)?
Passive component makers
Murata Manufacturing, TDK, Yageo, Samsung Electro-Mechanics, Taiyo Yuden, and KEMET compete in capacitors, resistors, and inductors. Several are larger and more focused on high-grade MLCCs, where Japanese and Taiwanese suppliers hold dominant share, while Vishay's strength skews toward precision resistors and a very broad catalog.
Discrete semiconductor makers
onsemi, Diodes Incorporated, Infineon, STMicroelectronics, and Nexperia compete in diodes, MOSFETs, and other discretes. These rivals often carry more scale or deeper positions in power semiconductors, so Vishay competes on breadth, legacy design wins, and reliability rather than leading-edge process technology.
Broad-line interconnect and component suppliers
TE Connectivity, Amphenol, and Littelfuse overlap in portions of the electronic-components market and serve many of the same automotive and industrial customers. They compete for design slots and distribution shelf space even where their core products differ from Vishay's resistors and diodes.
How to invest in Vishay Intertechnology, Inc. (VSH)
There are three common ways to get VSH exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so VSH sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where VSH fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Vishay Intertechnology, Inc. (VSH)
Vishay is a broad, cyclical components supplier turning back to profitability on a rebounding order book, and how you view it hinges on whether the Vishay 3.0 investment cycle converts backlog into durable margins.
More on Vishay Intertechnology, Inc. (VSH)
Whether VSH is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VSH a buy?, and where the stock could go from here in the VSH stock forecast.
For income investors, whether VSH pays a dividend and how the payout looks is covered in does VSH pay a dividend?
Build a basket around VSH with Walnut
Use Vishay Intertechnology, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Vishay Intertechnology do?
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Vishay makes discrete semiconductors (diodes, MOSFETs, optoelectronics) and passive electronic components (resistors, capacitors, inductors). These are low-cost but essential parts designed into automotive, industrial, computing, telecom, military, aerospace, medical, and consumer electronics.
Is VSH profitable?
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Vishay returned to GAAP profitability in Q1 2026, posting about $0.05 EPS and roughly $7 million in net earnings, reversing a loss in the prior-year quarter. Its profitability is cyclical and can swing between profit and loss as the electronics demand cycle turns.
What is the Vishay 3.0 strategy?
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Vishay 3.0 is the company's multi-year growth plan to expand manufacturing capacity and capture structural demand from electrification, EVs, and industrial automation. It involves elevated capital spending, which the company hopes to fill with its growing backlog and rising order book.
Does Vishay pay a dividend?
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Yes. Vishay pays a quarterly dividend of about $0.10 per share, a yield near 0.7%. During cyclical troughs the dividend has at times not been fully covered by earnings, which reflects how thin profitability can get at the bottom of the cycle.
Why is VSH considered a cyclical stock?
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Its components are sold into the broad electronics supply chain, so demand rises and falls with the inventory cycle across autos, industrials, and consumer devices. Revenue, margins, and earnings can swing meaningfully as customers build or draw down inventory.
What is a book-to-bill ratio and why does it matter for Vishay?
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Book-to-bill compares new orders received to products shipped. A ratio above 1 means orders are outpacing shipments, a sign of strengthening demand. Vishay reported a total book-to-bill of about 1.34 in Q1 2026, which investors read as a positive demand signal.
Who are Vishay's main competitors?
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In passives it competes with Murata, TDK, Yageo, Samsung Electro-Mechanics, and Taiyo Yuden. In discrete semiconductors it competes with onsemi, Diodes Incorporated, Infineon, and STMicroelectronics. Broad-line suppliers like TE Connectivity and Littelfuse overlap in some markets.
What are the biggest risks for VSH?
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The main risks are a stall in the electronics recovery, execution and timing risk on the Vishay 3.0 capacity expansion, pressure on free cash flow from heavy capital spending, pricing competition from larger rivals, and exposure to tariffs and currency swings from its global operations.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Vishay Intertechnology, Inc.'s investor relations page or your broker before making investment decisions.