Murata Manufacturing (OTCMKTS:MRAAY) Trading Up 17.9% – Here’s Why

Shares of Murata Manufacturing Inc. (OTCMKTS:MRAAY) rose 17.9% on Thursday . The company traded as high as $22.64 and last traded at $22.46. Approximately 274,741 shares traded hands during trading, a decline of 53% from the average session volume of 589,946 shares. The stock had previously closed at $19.0450.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Murata Manufacturing to a “hold” rating in a report on Monday, April 27th. Citigroup raised shares of Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Murata Manufacturing Stock Performance

The business has a 50 day simple moving average of $29.42 and a two-hundred day simple moving average of $18.69. The firm has a market capitalization of $84.18 billion, a P/E ratio of 54.82 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.91 billion. On average, equities analysts anticipate that Murata Manufacturing Inc. will post 0.55 earnings per share for the current fiscal year.

Murata Manufacturing Company Profile

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.