Murata Manufacturing (OTCMKTS:MRAAY) Shares Gap Down – Here’s Why

Murata Manufacturing Inc. (OTCMKTS:MRAAY) gapped down before the market opened on Monday . The stock had previously closed at $30.90, but opened at $27.80. Murata Manufacturing shares last traded at $28.0025, with a volume of 49,449 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MRAAY shares. Citigroup raised shares of Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Zacks Research upgraded shares of Murata Manufacturing to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy”.

Murata Manufacturing Stock Performance

The firm has a fifty day simple moving average of $28.31 and a 200-day simple moving average of $17.62. The company has a market capitalization of $103.30 billion, a PE ratio of 67.26 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last released its earnings results on Thursday, April 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. Murata Manufacturing had a return on equity of 8.97% and a net margin of 12.80%.The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.91 billion. As a group, research analysts anticipate that Murata Manufacturing Inc. will post 0.55 EPS for the current fiscal year.

About Murata Manufacturing

Murata Manufacturing Co, Ltd. is a Japan-based manufacturer of electronic components and modules, best known for its development and production of ceramic components. Founded in 1944 by Akira Murata and headquartered in Nagaokakyo, Kyoto Prefecture, the company has grown into a leading global supplier of multilayer ceramic capacitors (MLCCs), ceramic resonators, and a broad range of passive and active electronic parts used across consumer, industrial and automotive electronics.

The company’s product portfolio encompasses passive components (such as capacitors, inductors and filters), sensors and sensing modules, power modules, and RF/wireless communication modules.