Murata Manufacturing Inc. (OTCMKTS:MRAAY) Sees Significant Drop in Short Interest

Murata Manufacturing Inc. (OTCMKTS:MRAAY) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 423,646 shares, a decline of 39.3% from the September 30th total of 697,955 shares. Based on an average trading volume of 1,099,487 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company’s stock are sold short.

Murata Manufacturing Stock Up 0.4%

Murata Manufacturing stock traded up $0.07 during trading hours on Monday, hitting $19.80. The stock had a trading volume of 6,155,101 shares, compared to its average volume of 669,529. The company has a 50-day moving average of $23.51 and a two-hundred day moving average of $20.32. The company has a market cap of $72.40 billion, a PE ratio of 39.60 and a beta of 1.66. Murata Manufacturing has a fifty-two week low of $9.33 and a fifty-two week high of $38.72.

Murata Manufacturing (OTCMKTS:MRAAY) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Murata Manufacturing had a net margin of 14.19% and a return on equity of 10.44%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, analysts forecast that Murata Manufacturing will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Sanford C. Bernstein initiated coverage on Murata Manufacturing in a research note on Tuesday, September 15th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy”.

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.