Murata Manufacturing (OTCMKTS:MRAAY) Stock Price Down 8.4% – Here’s Why

Murata Manufacturing Inc. (OTCMKTS:MRAAY) shares fell 8.4% during trading on Thursday . The stock traded as low as $25.11 and last traded at $25.15. 109,066 shares traded hands during trading, a decline of 81% from the average session volume of 576,319 shares. The stock had previously closed at $27.45.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MRAAY. Citigroup raised Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a research note 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Murata Manufacturing Trading Down 3.4%

The business’s 50-day simple moving average is $28.75 and its 200-day simple moving average is $17.89. The company has a market capitalization of $87.32 billion, a PE ratio of 56.86 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last posted its quarterly 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. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.91 billion. Murata Manufacturing had a net margin of 12.80% and a return on equity of 8.97%. Sell-side analysts forecast that Murata Manufacturing Inc. will post 0.55 EPS for the current fiscal year.

Murata Manufacturing Company Profile

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.