Murata Manufacturing (OTCMKTS:MRAAY) Stock Price Down 11.3% – Here’s What Happened

Murata Manufacturing Inc. (OTCMKTS:MRAAY)’s stock price fell 11.3% on Tuesday . The stock traded as low as $27.78 and last traded at $28.2320. 104,327 shares changed hands during trading, a decline of 81% from the average daily volume of 560,755 shares. The stock had previously closed at $31.82.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MRAAY. Citigroup raised shares of Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Zacks Research raised shares of Murata Manufacturing to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Murata Manufacturing Price Performance

The business has a 50 day moving average of $27.24 and a 200 day moving average of $17.09. The firm has a market capitalization of $102.90 billion, a price-to-earnings ratio of 67.00 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last released its earnings results on Thursday, April 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. Murata Manufacturing had a return on equity of 8.97% and a net margin of 12.80%.The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.91 billion. As a group, equities analysts predict that Murata Manufacturing Inc. will post 0.55 EPS 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.