Murata Manufacturing (OTCMKTS:MRAAY) Shares Down 11.5% – Here’s What Happened

Murata Manufacturing Inc. (OTCMKTS:MRAAY) shares traded down 11.5% during trading on Wednesday . The stock traded as low as $19.01 and last traded at $19.2025. 112,264 shares traded hands during trading, a decline of 81% from the average daily volume of 587,081 shares. The stock had previously closed at $21.70.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Murata Manufacturing to a “hold” rating in a research note on Monday, April 27th. Citigroup raised Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One 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, Murata Manufacturing has an average rating of “Buy”.

Murata Manufacturing Stock Up 21.4%

The stock has a market cap of $84.57 billion, a price-to-earnings ratio of 55.07 and a beta of 1.57. The business’s fifty day moving average is $29.46 and its two-hundred day moving average is $18.78.

Murata Manufacturing (OTCMKTS:MRAAY) last issued 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 during the quarter, compared to analysts’ expectations of $2.91 billion. Murata Manufacturing had a net margin of 12.80% and a return on equity of 8.97%. As a group, sell-side analysts expect 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.