MALVERN, Pa. - Vishay Intertechnology, Inc. (NYSE:VSH) today introduced a new series of 1200 V silicon carbide (SiC) Schottky diodes designed to enhance efficiency and reliability in power conversion applications. The 16 new Gen 3 devices range from 5 A to 40 A and are available in various package types, including TO-220AC 2L, TO-247AD 2L, TO-247AD 3L, and D²PAK 2L.
These diodes are engineered with a merged PIN Schottky (MPS) design, which is claimed to offer improved surge current robustness and reduced capacitive charge and reverse leakage current. The company touts that the MPS structure, supported by backside thinned via laser annealing technology, provides a lower forward voltage drop of 1.35 V. Additionally, the diodes' low typical reverse leakage current, down to 2.5 µA at 25 °C, is intended to minimize conduction losses, especially during light loads and idling.
The new SiC diodes are designed for use in various demanding environments, including solar power inverters, energy storage systems, industrial drives, and data centers. They are characterized by their ability to operate at temperatures up to +175 °C and have forward surge ratings up to 260 A. Moreover, the diodes in the D²PAK 2L package feature a high Comparative Tracking Index (CTI) of 600, which is indicative of their robust electrical insulation at elevated voltages.
Vishay has subjected these diodes to extensive testing, including a high temperature reverse bias (HTRB) of 2000 hours and temperature cycling of 2000 thermal cycles, to ensure their reliability. These tests are part of the company's commitment to providing components that meet stringent industry standards.
The new diodes are RoHS-compliant, halogen-free, and are available now with lead times of 13 weeks. Vishay's announcement is based on a press release statement and further details on these products can be found on the company's website.
In other recent news, Vishay Intertechnology reported mixed results for its Q1 2024 earnings. The company's revenue reached $746.3 million, slightly above their guidance range, despite a 5% sequential revenue decline primarily due to inventory adjustments in semiconductor products. Notably, the aerospace and defense sector saw a growth of 34.2% year-over-year, and automotive revenue also slightly increased. However, industrial revenue dropped by 6.2% and medical revenue fell by 18.3%.
These are the latest developments for Vishay Intertechnology. The company anticipates the inventory correction to continue into the second quarter but expects a recovery in the latter half of the year. According to the earnings call, Vishay is planning to invest $2.6 billion from 2023 to 2028 for capacity expansion and innovation, including investments in silicon carbide technology.
In terms of future expectations, Vishay forecasts Q2 revenues to be around $750 million with a gross margin of 21.7%. These projections are based on the company's ongoing strategic plan focusing on capacity expansion and innovation.
InvestingPro Insights
Vishay Intertechnology, Inc. (NYSE:VSH) has been navigating a challenging market, as reflected in the real-time data from InvestingPro. With a market capitalization of $3.03 billion and a price-to-earnings (P/E) ratio standing at 12.58, the company shows a level of stability in its valuation metrics. However, it's notable that the adjusted P/E ratio has decreased slightly to 11.78 over the last twelve months as of Q1 2024, potentially indicating a more favorable view from investors based on earnings.
Despite the introduction of their new series of SiC Schottky diodes aimed at improving power conversion efficiency, the company is experiencing a revenue decline, with a -6.75% change over the last twelve months as of Q1 2024. This trend is further emphasized by a quarterly revenue growth rate of -14.32% for Q1 2024. Yet, Vishay maintains a gross profit margin of 26.43%, which suggests that even with falling revenues, the company is still able to retain a reasonable portion of sales as gross profit.
InvestingPro Tips highlight that analysts predict a sales decline and a drop in net income for the current year. However, Vishay is expected to remain profitable, as indicated by their performance over the last twelve months. Additionally, the company has a history of consistent dividend payments, having maintained them for 11 consecutive years, with a current dividend yield of 1.82%. This consistency in returning value to shareholders may be of particular interest to long-term investors. Moreover, with the stock trading near its 52-week low and the company operating with a moderate level of debt, it may present a potential opportunity for value investors.
For those looking to delve deeper into Vishay's financial health and future prospects, InvestingPro offers a wealth of additional tips and metrics. Currently, there are 9 more InvestingPro Tips available that can provide further insights into Vishay's performance and stock behavior. Interested readers can unlock these valuable tips and make more informed investment decisions by subscribing to InvestingPro. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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