Vishay Intertechnology Inc

Vishay Intertechnology (VSH) makes passive electronic components and discrete semiconductors. The company is benefiting from incremental growth in electric vehicles and industrial electrification. Following a cyclical downturn, Vishay is seeing strong bookings and revenue growth across all end markets, especially in industrial applications. The company has been investing aggressively in sales and manufacturing capacity and is changing its culture to be more dynamic. The manager is cautiously optimistic about Vishay's growth plans, indicating that they are starting to see positive results from these efforts.

Vishay Intertechnology (VSH) makes passive electronic components and discrete semiconductors. The company is benefiting from incremental growth in electric vehicles and industrial electrification. Following a cyclical downturn, Vishay is seeing strong bookings and revenue growth across all end markets, especially in industrial applications. The company has been investing aggressively in sales and manufacturing capacity and is changing its culture to be more dynamic. The manager expresses cautious optimism about Vishay's growth plans, indicating a positive outlook despite recent share price increases.

Vishay Intertechnology has shown a strong recovery from a cyclical low, benefiting from a rebound in demand and incremental sales into data centers. The company, which has historically been conservative, is now investing in growth under new leadership, which we believe will compound value for shareholders. Despite some volatility, we see potential for continued performance improvement as the company adapts to changing market dynamics. We have added to our position during the downturn, confident in Vishay's ability to navigate the evolving landscape.

Vishay manufactures passive components and discrete semiconductors, and its performance has rebounded sharply from cyclical lows reached about a year ago.

Vishay Intertechnology (VSH) makes passive electronic components and discrete semiconductors. Although its industry is cyclical, competitive dynamics are stable and VSH benefits from incremental growth in electric vehicles and industrial electrification. The industry is currently emerging from a cyclical downturn following the excesses and component hoarding of the Covid era. Additionally, following its April 2024 Investor Day, Vishay has been aggressively investing in sales, corporate, and manufacturing capacity. We are cautiously optimistic about Vishay’s growth plans and have been adding to the position during this cyclical weakness.

In the first quarter of 2025, we made significant additions to our holdings in Vishay Intertechnology (VSH) as it became more attractively priced during the quarter. The company is well-positioned within the electronics component manufacturing sector, which is critical for various industries. Our confidence in Vishay is bolstered by its strong market position and the overall demand for semiconductors, which we believe will continue to grow. This aligns with our long-term investment strategy focused on quality businesses with sustainable competitive advantages.