Vishay Intertechnology and ON Semiconductor are both benefiting from automotive electrification and AI infrastructure spending, but Vishay's aggressive transformation strategy is giving it a stronger growth narrative. Vishay's first-quarter 2026 revenues rose 17.3% year over year to $839 million, with a book-to-bill ratio of 1.34 and backlog up 21% to $1.6 billion, driven by market share gains in automotive and industrial markets. ON Semiconductor's first-quarter revenues improved 5% to $1.51 billion, with gross margin rising to 38.5%, and it holds roughly 55% share of silicon carbide solutions in new EV models at the 2026 Beijing Auto Show. While both stocks have surged in 2026, with VSH gaining 313.5% compared with ON's 119.3%, Vishay's accelerating momentum and expanding competitive position make it the more compelling auto semiconductor stock, despite its higher forward P/E of 52.79 versus ON's 32.06.
Vishay Intertechnology IncVishay's first-quarter 2026 revenues rose 17.3% year over year to $839 million, with a book-to-bill ratio of 1.34 and backlog up 21% to $1.6 billion, driven by market share gains in automotive and industrial markets, indicating strong demand.
ON Semiconductor CorporationON Semiconductor's first-quarter revenues improved 5% to $1.51 billion, with gross margin rising to 38.5%, and it holds roughly 55% share of silicon carbide solutions in new EV models at the 2026 Beijing Auto Show, indicating strong demand in automotive electrification.