MALVERN, Pa. – Vishay Intertechnology, Inc. (NYSE:), a Fortune 1000 manufacturer of discrete semiconductors and electronic components, announced today the expansion of its IHPT series of haptic actuators. The new solenoid-based actuators are designed to enhance the user experience by providing high-definition tactile feedback for various human-machine interfaces (HMI) in automotive and commercial applications.
The latest addition includes five new devices offering a range of sizes and force levels, with force output reaching up to 120 N. These actuators are crafted for 12 V operation, suitable for LCD displays, touchscreens, touch switches, and button control panels. Their compact, two-piece construction allows for straightforward installation, and they are equipped with mounting holes for the direct application of force.
With a rapid response time of 5 ms and operating voltages from 8 V to 16 V, the actuators are engineered to deliver clear haptic feedback in noisy, rugged environments where audio signals may be insufficient. The robust construction of the devices, featuring a and iron core, ensures high reliability and temperature operation up to +105°C.
The IHPT1411AFELR73ABA model, which is AEC-Q200 qualified for Automotive Grade requirements, is intended for use in vehicle dashboards, center consoles, and other in-vehicle controls like electronic shift transmissions and steering wheels. Other models in the series cater to a variety of sectors, including factory automation, consumer appliances, medical equipment, and military applications. However, they are not available for gaming applications due to licensing restrictions.
Vishay’s actuators are positioned as a cost-effective alternative to other technologies like linear resonant and piezo actuators, as they do not require high voltage circuitry. The devices offer higher force density while maintaining a lower component height. They come bundled with Immersion (NASDAQ:) licenses, streamlining the design-in process and reducing costs by avoiding the purchase of separate licenses for haptic effects implementation.
The IHPT series can drive a 0.5 kg load to 6 g of acceleration with a 12 V, 5 ms pulse. The actuators feature driving coils with an inductance down to 1.8 mH and typical DCR down to 0.95 Ω. The devices are RoHS-compliant, halogen-free, and meet Vishay’s Green standards, with standard lead terminations dipped in 100% tin solder.
Samples and production quantities of the new IHPT feedback actuators are available now, with lead times ranging from 8 to 12 weeks. This announcement is based on a press release statement from Vishay Intertechnology, Inc.
In other recent news, Vishay Intertechnology reported Q2 2024 earnings with revenues of $741.2 million, a figure virtually unchanged from the previous quarter. The company’s gross margin stood at 22.0%, influenced negatively by the Newport acquisition. Looking ahead, Vishay anticipates revenues for Q3 2024 to be between $725 million and $765 million, with a predicted gross margin of 21.0%.
TD Cowen maintained a Hold rating on Vishay’s shares but reduced the price target from $24.00 to $22.00 due to the company’s less than expected performance. This adjustment follows the company’s recent earnings report and guidance, which fell short of expectations due to ongoing destocking in the automotive and industrial sectors.
Vishay also announced a dividend of $0.10 per share for both common stock and Class B common stock, approved by its Board of Directors. The dividend is scheduled to be distributed to shareholders on record as of the close of business on September 10, 2024.
In terms of strategic moves, Vishay has planned investments for capacity expansion at $2.6 billion from 2023 to 2028. The company aims to increase MOSFET capacity by 12% in 2025 and semiconductor products by 5.5% in 2024. Additionally, Vishay has broadened its market presence by acquiring Ametherm, which is expected to boost its standing in the electric vehicle and battery management system markets.
InvestingPro Insights
As Vishay Intertechnology (NYSE:VSH) focuses on expanding its IHPT series of haptic actuators, investors and industry observers are keeping a close eye on the company’s financial health and market performance. According to InvestingPro data, Vishay currently holds a market capitalization of $2.62 billion, showcasing its substantial presence in the electronic components industry. Despite facing a challenging market environment, with a reported revenue decline of 11.76% over the last twelve months as of Q2 2024, the company maintains a strong gross profit margin of 24.68%. This indicates that while sales have dipped, Vishay is still effectively controlling its cost of goods sold, which is vital for maintaining profitability.
An InvestingPro Tip worth noting is that Vishay has managed to maintain dividend payments for 11 consecutive years, a testament to its financial stability and commitment to shareholder returns. This is particularly relevant to long-term investors who value consistent income streams. Additionally, as of the latest data, Vishay’s shares are trading near their 52-week low, which could potentially signal a buying opportunity for value investors seeking to capitalize on market fluctuations.
For those interested in deeper financial analysis and additional insights, InvestingPro offers a comprehensive list of tips, including further details on earnings revisions and sales projections. At present, there are 10 additional InvestingPro Tips available for Vishay Intertechnology, which can be accessed through the InvestingPro platform.
Investors may also find solace in the fact that despite the sales decline, analysts predict the company will remain profitable this year, as indicated by the positive net income projections. This aligns with the company’s recent strategic moves, such as the expansion of its product line, which could help drive future growth and market share in the haptic technology sector.
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