Merrill Hikes Vishay Rating
Vishay Intertechnology (VSH ) posted better than expected $0.03 vs. $0.65 Q1 EPS from operations. Merrill Lynch upgraded the stock to near term neutral from reduce.
Analyst Jerry Labowitz says Vishay reported better than expected results due to its power semiconductor business (50% of sales) and meaningful cost savings from recent acquisitions (such as General Semiconductor). Labowitz says recent booking trends in Vishay's power semiconductor business should put less risk in his EPS estimates going forward over next couple of quarters than previously expected. The analyst is reviewing his estimates on Vishay. He maintains a long-term strong buy rating on the shares.