Movement Alert|Vishay Intertechnology Falls 5.26% in Regular Trading, Electronic Components Sector Broad Selloff Drags Individual Stocks

Market Focus08-18 22:00

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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment