Hedge fund Mountaineer Partners urges Vishay to buy back shares [Reuters]
Vishay Intertechnology, Inc. (VSH)
Last vishay intertechnology, inc. earnings: 2/4 07:00 am
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Source: Reuters
NEW YORK, April 22 (Reuters) - Hedge fund Mountaineer Partners is urging discrete electronic components maker Vishay Intertechnology (VSH.N) New Tab , opens new tab to buy back $600 million worth of stock this year, citing the company's "irrationally low valuation," according to a letter reviewed by Reuters. New York-based Mountaineer, which owns 1.7% of Vishay, in a letter to the board on Monday said that Vishay has cash on its balance sheet it doesn't need and could use more sensibly to repurchase stock. "Given Vishay's overcapitalized balance sheet, the Board should take advantage of Vishay's irrationally low valuation by approving and implementing a $600 million accelerated share repurchase," said the letter, signed by Mountaineer partner Greg Williams said. A representative for Malvern, Pennsylvania-based Vishay was not immediately available for comment. Mountaineer Partners argued that buying back $600 million in stock this year is a "prudent mechanism" for boosting s
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VSH
Earnings
- 2/7/24 - Beat
VSH
Sec Filings
- 4/3/24 - Form 8-K
- 4/1/24 - Form DEF
- 3/13/24 - Form 8-K
- VSH's page on the SEC website