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

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

Wall Street Analysts Forecast Growth

MRAAY has been the subject of a number of recent research reports. Zacks Research upgraded 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 report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy”.

Murata Manufacturing Price Performance

The business’s 50 day simple moving average is $26.40 and its 200 day simple moving average is $16.68. The company has a market capitalization of $102.57 billion, a price-to-earnings ratio of 66.79 and a beta of 1.57.

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