Why Vishay Intertechnology Stock Is Posting Big Gains Today
Vishay Intertechnology(NYSE: VSH) stock is making big gains in Wednesday's trading. The semiconductor and electronic-components company's share price was up roughly 12.8% in the daily session as of noon ET, according to data from S&P Global Market Intelligence.
Vishay published its Q1 results before the market opened today, delivering sales and earnings performance that came in better than what Wall Street had been expecting. The company recorded earnings per share of $0.79 on sales of $871 million, crushing the average analyst estimate's call for per-share earnings of $0.49 on revenue of roughly $846 million.
While sales grew only 2% year over year in the quarter, Vishay saw its product makeup in the period help deliver earnings results that far surpassed the market's expectations. The company saw sales increases for its medical and aerospace-defense products, as well as sustained demand in the automotive category. Vishay posted a gross margin of 32% in the period, up from 30.3% in the prior-year quarter and 29.1% in Q4.
Source Fool.com
