Ruplu Bhattacharya, an analyst from Bank of America Securities, reiterated the Sell rating on Vishay Intertechnology. The associated price target was lowered to $15.00.
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Ruplu Bhattacharya has given his Sell rating due to a combination of factors related to profitability, spending, and demand visibility. While he acknowledges Vishay Intertechnology’s recent share gains, improving backlog, and better point‑of‑sale trends, he highlights that gross margins barely exceeded guidance even with a smaller-than-expected drag from the Newport facility, and that higher selling, general, and administrative expenses are pressuring earnings projections.
He also points to only seasonal first‑quarter revenue growth despite automotive share wins, elevated capital expenditures in 2026 that are likely to keep free cash flow at or below zero, and rising raw material costs that could further compress margins.
In addition, he flags the uncertain impact of price increases on end‑market demand, ongoing underutilization risk at the Newport fab, and pockets of excess inventory in distribution channels, all of which, combined with a cautious macro backdrop and a target price below the current share price, support his Underperform (Sell) stance.