On August 18, Vishay Intertechnology fell 5.26% in regular trading, trading at $33.0/share, with turnover of $12.49 million. The decline came amid a broad selloff across the electronic components sector, with peers Coherent down 10.45%, Amphenol down 5.28%, LG Display down 5.52%, Corning down 5.1%, and Littelfuse down 4.75%.
On the news front, the sector-wide weakness amplified lingering concerns over the company's Q2 revenue miss. While Q2 adjusted EPS of $0.19 beat the consensus estimate of $0.14-$0.15, revenue of $888.6 million came in below the $897 million analyst expectation. The company issued Q3 revenue guidance of $945-$975 million, above the Street's $931.4 million estimate, but the top-line shortfall continued to weigh on sentiment during the sector rotation. Additionally, the company completed a 15-million-share public offering in early July priced at $50 per share, raising approximately $750 million, with the resulting share dilution adding further pressure to the stock. Raymond James recently initiated coverage with a Buy rating and a $40 price target.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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