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

Murata Manufacturing Inc. (OTCMKTS:MRAAY)’s stock price 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 changing hands.

Wall Street Analyst Weigh In

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

Murata Manufacturing Stock Down 9.4%

The stock’s 50 day moving average price is $27.86 and its 200-day moving average price is $17.37. The stock has a market capitalization of $102.31 billion, a P/E ratio of 66.62 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Murata Manufacturing had a net margin of 12.80% and a return on equity of 8.97%. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.91 billion. Analysts anticipate that Murata Manufacturing Inc. will post 0.55 earnings per share for the current 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.