Shares of Vishay Intertechnology (NYSE:VSH) jumped on Tuesday after the discrete semiconductor manufacturer reported its fourth-quarter results. Vishay produced double-digit revenue growth and beat analyst estimates across the board. The stock was up about 9.9% at 3:30 p.m. EST.
Vishay reported fourth-quarter revenue of $775.9 million, up 15.2% year over year and about $15 million above the average analyst estimate. Vishay CEO Dr. Gerald Paul had this to say about the results:
As in the previous year, partially extreme demand from virtually all market segments drove this strength. We further increased manufacturing capacities of most of our product lines considerably and we continue to do so for several strategic lines.
Non-GAAP earnings per share came in at $0.58, up from $0.37 in the prior-year period and $0.07 higher than analysts were expecting. GAAP gross margin rose 2.3 percentage points to 29.3%, while operating margin jumped 3.5 percentage points to 16%.
Vishay expects to produce first-quarter revenue between $730 million and $770 million, along with a gross margin of 28% to 29%. This outlook assumes that exchange rates will be unchanged from the fourth quarter.
While shares of Vishay are up over the past three years, the stock was still down about 17% from its 52-week high after Tuesday's surge.