Murata Manufacturing (OTCMKTS:MRAAY) Shares Down 8% – Here’s What Happened

Murata Manufacturing Inc. (OTCMKTS:MRAAY) traded down 8% during trading on Monday. The company traded as low as $19.84 and last traded at $19.96. Approximately 5,181,455 shares traded hands during trading, an increase of 705% from the average session volume of 643,608 shares. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein assumed coverage on Murata Manufacturing in a research note on Tuesday, September 15th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Murata Manufacturing currently has an average rating of “Buy”.

Murata Manufacturing Trading Up 2.1%

The firm has a market cap of $73.64 billion, a PE ratio of 40.28 and a beta of 1.66. The firm’s 50 day simple moving average is $23.51 and its 200 day simple moving average is $20.32.

Murata Manufacturing (OTCMKTS:MRAAY) last released its quarterly earnings data on Friday, October 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Murata Manufacturing had a net margin of 14.19% and a return on equity of 10.44%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities research analysts predict that Murata Manufacturing Inc. will post 0.69 earnings per share for the current fiscal year.

About Murata Manufacturing

Murata Manufacturing Co, Ltd. is a Japanese electronic components manufacturer that develops and produces components, modules and devices used in a broad range of electronic equipment. Its product portfolio includes multilayer ceramic capacitors, inductors, filters, timing devices, sensors, wireless connectivity modules and power-related components.

The company’s products support applications in smartphones, computers, automobiles, industrial equipment, healthcare devices and other consumer and communications electronics.