The stock has tanked. Down $2 or 25% in just three weeks. Before despairing and dumping consider this:
- VSH just reported first profitable quarter. Not much profit, but a profit.
- VSH sales grew $65M or 12% from the previous quarter. This reverses the down trend in sales.
- VSH book to bill ratio is now 1.11 This means that sales are growing at 11% clip this current quarter.
- The VSH stock is so cheap that it costs 20% less than the Vishay book value. This means if one were to sell off all the stuff and close the company they would get about 20% more dollars per share than current price.
- Vishay sales per share are $12 per year. This means the stock is ridiculously cheap at the equivalent of 6 month worth of sales.
- barrier to entry into this business is high. Hundreds or patents and the know how to make these IC components and how to sell them.
- most manufacturing of VSH is outside the USA and W.Europe in cheap labor countries. They also put new cost savings measures in place during this recession.
- cash per share is $2.70. No danger of cash flow problems.

Well this stock has no place to go but up.
It might take a few months, but this stock was in the $15 price range two years ago. No reason for it not to go there again. The sales were higher then, but with 1.11 book to bill ratio and world economy picking up VSH should report much better sales next quarter.
PS: The negative factor that the board closely controls the company has been priced in the stock price long time ago. I do not see any other negatives, except the world economy diving into crisis again.
All this JMHO.