Vishay Precision Group announces director resignation

Vishay Precision Group, Inc. (NYSE:VPG), a manufacturer of electronic components and accessories with a market capitalization of $323 million, disclosed in a recent SEC filing that Marc Zandman has resigned from its board of directors. The resignation took effect immediately prior to the upcoming annual meeting of stockholders, scheduled for May 21, 2025.

According to the filing dated February 27, 2025, Zandman’s departure will allow him to dedicate more time to his roles at Vishay Intertechnology (NYSE:VSH), Inc., including Executive Chairman of the Board of Directors, Chief Business Development Officer, and President of Vishay Israel Ltd. Vishay Precision Group, based in Malvern, PA, clarified that Zandman’s resignation was not due to any disagreements with the company regarding its operations, policies, or practices. InvestingPro data shows the company maintains a strong financial position, with liquid assets exceeding short-term obligations and a healthy current ratio of 4.47x.

The change comes as Vishay Precision Group continues to navigate the competitive landscape of the electronics sector. The company’s stock, traded on the New York Stock Exchange at $24.34, may see investor reaction to the organizational shift as the market processes the news. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value calculation, with analysts maintaining a strong buy consensus. Get the full picture with InvestingPro’s comprehensive research report, available along with additional ProTips and detailed financial metrics.

The information for this report is based on a press release statement.

In other recent news, Vishay Precision Group (VPG) reported its fourth-quarter 2024 earnings, which did not meet expectations. The company posted revenue of $72.65 million, falling short of the forecasted $74.18 million, and earnings per share (EPS) of $0.03, significantly below the expected $0.21. Despite these results, VPG plans to achieve $5 million in annual cost reductions and anticipates generating $100 million in new revenue over the next three to four years. Additionally, B.Riley analyst Josh Nichols upgraded VPG’s stock from Neutral to Buy, setting a new price target of $28.50. This upgrade was based on a potential early-stage recovery for the company, as evidenced by a 5.7% increase in orders quarter-over-quarter and an improved book-to-bill ratio of 1.00x. The company also announced a revenue guidance range of $70-76 million for the first quarter of 2025, with expectations of increased orders in the latter half of the year. VPG’s financial position includes $79.3 million in cash and cash equivalents, with long-term debt totaling $31.4 million.

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