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Vishay's Rising EV Exposure: Will it Aid Automotive Revenue Growth?
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Key Takeaways
Vishay's automotive revenues rose 10.6% year over year in Q1 2026 as hybrid and EV programs expanded.
VSH is the leading resistor supplier for multiple new EV platforms with production ramping through 2028.
Vishay is expanding capacity in Newport and Germany to support rising automotive demand and qualifications.
Vishay Intertechnology, Inc. (VSH - Free Report) is steadily expanding its footprint in the electric vehicle (EV) market, positioning its automotive business for stronger long-term growth. As automakers increase the electronic content in both hybrid and battery EVs, demand for Vishay's power semiconductors and passive components is expected to rise.
The company's automotive segment showed encouraging momentum in the first quarter of 2026. Automotive revenues increased 2.7% sequentially and 10.6% year over year to $284.3 million, driven by solid OEM demand in North America and Europe as hybrid and EV production programs continued to ramp up. Order intake also improved as customers sought reliable suppliers with competitive lead times and greater manufacturing capacity.
A major growth driver is Vishay's increasing share in next-generation EV platforms. During the last earnings call, management stated that the company is now the leading supplier of resistors for multiple automakers launching new electric vehicle platforms. These programs are expected to ramp up production steadily through 2028, providing Vishay with multi-year revenue visibility.
The company is also securing design wins in several high-value automotive applications, including battery management systems, advanced driver-assistance systems (ADAS), electronic power steering and powertrain electronics. These systems require a growing number of semiconductors and passive components, creating additional content opportunities per vehicle.
To support future demand, Vishay continues expanding production capacity through investments at its Newport facility and its new 12-inch fab in Germany. Several automotive customer audits have already been completed, with additional qualifications expected in 2026. As EV adoption accelerates worldwide, Vishay's stronger customer relationships, expanding manufacturing footprint and rising content per vehicle should help drive sustained automotive revenue growth over the coming years.
How Vishay Stacks Up Against EV-Focused Semiconductor Rivals
Among Vishay's closest competitors, ON Semiconductor Corporation (ON - Free Report) and Allegro MicroSystems, Inc. (ALGM - Free Report) are also benefiting from the growing adoption of EVs.
ON Semiconductor has built a strong presence in EV powertrains through its silicon carbide (SiC) MOSFETs, intelligent power modules and image sensors. In the first quarter of 2026, automotive revenues increased 4.6% year over year and accounted for about 53% of ON Semiconductor's total sales, highlighting its deep exposure to the EV market. The company continues expanding SiC production capacity to meet rising demand from global automakers.
Allegro MicroSystems is another important player in automotive semiconductors, supplying magnetic sensors and power integrated circuits used in EV traction inverters, battery management systems and ADAS. In the fourth quarter of fiscal 2026, Allegro MicroSystems’ automotive revenues surged 17.5% year over year to $163.9 million and represented 67% of total sales, underscoring its heavy dependence on vehicle electrification.
While both companies are highly focused on automotive electronics, Vishay offers a broader portfolio spanning discrete semiconductors and passive components.
VSH’s Price Performance, Valuation and Estimates
Shares of Vishay Intertechnology have skyrocketed 179% so far this year compared with the Zacks Computer and Technology sector’s 15.8% growth.
From a valuation standpoint, VSH trades at a forward 12-month price-to-earnings ratio of 34.4, significantly higher than the sector average of 24.49. Vishay carries a Value Score of C.
Vishay Intertechnology Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Vishay Intertechnology’s 2026 earnings is pegged at 75 cents per share, implying a robust improvement from the loss of 5 cents in 2025. The consensus mark of $1.54 per share for 2027 earnings calls for a 105% year-over-year surge. Estimates for 2026 and 2027 have been revised upward over the past 60 days.
View the Zacks #1 Rank List
Image: Bigstock
Vishay's Rising EV Exposure: Will it Aid Automotive Revenue Growth?
Key Takeaways
Vishay Intertechnology, Inc. (VSH - Free Report) is steadily expanding its footprint in the electric vehicle (EV) market, positioning its automotive business for stronger long-term growth. As automakers increase the electronic content in both hybrid and battery EVs, demand for Vishay's power semiconductors and passive components is expected to rise.
The company's automotive segment showed encouraging momentum in the first quarter of 2026. Automotive revenues increased 2.7% sequentially and 10.6% year over year to $284.3 million, driven by solid OEM demand in North America and Europe as hybrid and EV production programs continued to ramp up. Order intake also improved as customers sought reliable suppliers with competitive lead times and greater manufacturing capacity.
A major growth driver is Vishay's increasing share in next-generation EV platforms. During the last earnings call, management stated that the company is now the leading supplier of resistors for multiple automakers launching new electric vehicle platforms. These programs are expected to ramp up production steadily through 2028, providing Vishay with multi-year revenue visibility.
The company is also securing design wins in several high-value automotive applications, including battery management systems, advanced driver-assistance systems (ADAS), electronic power steering and powertrain electronics. These systems require a growing number of semiconductors and passive components, creating additional content opportunities per vehicle.
To support future demand, Vishay continues expanding production capacity through investments at its Newport facility and its new 12-inch fab in Germany. Several automotive customer audits have already been completed, with additional qualifications expected in 2026. As EV adoption accelerates worldwide, Vishay's stronger customer relationships, expanding manufacturing footprint and rising content per vehicle should help drive sustained automotive revenue growth over the coming years.
How Vishay Stacks Up Against EV-Focused Semiconductor Rivals
Among Vishay's closest competitors, ON Semiconductor Corporation (ON - Free Report) and Allegro MicroSystems, Inc. (ALGM - Free Report) are also benefiting from the growing adoption of EVs.
ON Semiconductor has built a strong presence in EV powertrains through its silicon carbide (SiC) MOSFETs, intelligent power modules and image sensors. In the first quarter of 2026, automotive revenues increased 4.6% year over year and accounted for about 53% of ON Semiconductor's total sales, highlighting its deep exposure to the EV market. The company continues expanding SiC production capacity to meet rising demand from global automakers.
Allegro MicroSystems is another important player in automotive semiconductors, supplying magnetic sensors and power integrated circuits used in EV traction inverters, battery management systems and ADAS. In the fourth quarter of fiscal 2026, Allegro MicroSystems’ automotive revenues surged 17.5% year over year to $163.9 million and represented 67% of total sales, underscoring its heavy dependence on vehicle electrification.
While both companies are highly focused on automotive electronics, Vishay offers a broader portfolio spanning discrete semiconductors and passive components.
VSH’s Price Performance, Valuation and Estimates
Shares of Vishay Intertechnology have skyrocketed 179% so far this year compared with the Zacks Computer and Technology sector’s 15.8% growth.
Vishay Intertechnology YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, VSH trades at a forward 12-month price-to-earnings ratio of 34.4, significantly higher than the sector average of 24.49. Vishay carries a Value Score of C.
Vishay Intertechnology Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Vishay Intertechnology’s 2026 earnings is pegged at 75 cents per share, implying a robust improvement from the loss of 5 cents in 2025. The consensus mark of $1.54 per share for 2027 earnings calls for a 105% year-over-year surge. Estimates for 2026 and 2027 have been revised upward over the past 60 days.
Image Source: Zacks Investment Research
Vishay Intertechnology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.