Vishay Intertechnology (VSH, Financial), a manufacturer of discrete semiconductors and passive electronics, increasedrevenues and profits last year as its share price fell. The company offers a broad range of products essential to manufacturing electronic circuits. While broadly diversified by geography, customer, and end markets, the company is sensitive to economic growth, and slower economic growth would provide a headwind. Given the current valuation, these concerns seem to be priced into the stock, and we believe the secular tailwinds outweigh the near-term uncertainty.
From Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund fist-quarter 2022 commentary.
