Why Vishay Intertechnology (VSH) Shares Are Up Wednesday Morning - Vishay Intertechnology (NYSE:VSH)

Vishay Intertechnology Inc VSH reported Q1 2023 net revenue growth of 2.0% Y/Y to $871.0 million, beating the analyst consensus of $845.8 million.
Gross margin expanded 170 bps Y/Y to 32.0%. Operating margin expanded 110 bps Y/Y to 18.2%.
Adjusted EBITDA margin expanded 170 bps to 22.9%.
Adjusted EPS of $0.79 beat the analyst consensus of $0.55.
Vishay held ~$1 billion in cash and cash equivalents. It generated $129.9 million in operating cash flow during Q1.
Total inventories as of April 1, 2023, totalled $656.7 million versus $618.9 million as of Dec. 31, 2022.
Q2 2023 Outlook: Vishay sees revenue of $860 million-$900 million compared to the analyst consensus of $841.91 million.
The company sees a gross margin of 29.0% (+/- 50 basis points).
"We also increased investments in capacity expansion for our 30 key product lines in support of high growth and high return opportunities that meet our customers' accelerating demand. While 2023 is a staging year at Vishay as we prepare to participate fully in the next step up in demand related to connectivity, mobility and sustainability megatrends, we remain committed to spending approximately $385 million in capex and returning at least $100 million to our stockholders," said Joel Smejkal, president and CEO.
Price Action: VSH shares are trading higher by 8.75% at $23.00 premarket on the last check Wednesday.

Why Vishay Intertechnology Shares Are Up Wednesday Morning