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What: Shares of chip maker Vishay Intertechnology (NYSE: VSH) climbed 10% Tuesday after its quarterly results and guidance weren't as bad as Wall Street expected.

So what: Vishay shares have been walloped over the past several months on concerns over slowing tech spending, but decent second-quarter results -- earnings of $45.7 million on revenue of $588.2 million -- coupled with in-line revenue guidance for the current quarter ease some of those worries. While end markets continue to be influenced by macroeconomic uncertainty, Vishay's operating margins held up well during the quarter, giving investors plenty of optimism about the company's profitability going forward.

Now what: Management now sees third-quarter revenue of $570 million to $610 million and margins similar to those in the second quarter. "Thanks to Vishay's business model of being a broad-line manufacturer with a global presence selling into all end markets as well as to our low breakeven point, Vishay is very well positioned to face any erratic developments of the macro economy or to benefit from an economic upturn," said CEO Dr. Gerald Paul in a statement. Of course, with the stock still well off its 52-week highs and currently trading at a cheapish forward P/E of 7.5, there might be some time to buy into that turnaround talk.

Interested in more info on Vishay? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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