Murata Manufacturing (OTCMKTS:MRAAY) Shares Down 11.5% – Time to Sell?

Shares of Murata Manufacturing Inc. (OTCMKTS:MRAAY) dropped 11.5% during mid-day trading on Wednesday . The stock traded as low as $19.01 and last traded at $19.2025. Approximately 112,264 shares traded hands during mid-day 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 commented on the stock. Zacks Research raised shares of Murata Manufacturing to a “hold” rating in a research report on Monday, April 27th. Citigroup upgraded 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 issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Murata Manufacturing Trading Down 13.2%

The stock has a 50 day simple moving average of $29.44 and a 200-day simple moving average of $18.63. The firm has a market capitalization of $68.89 billion, a P/E ratio of 44.86 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last issued its quarterly earnings data 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. The firm had revenue of $2.94 billion for 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 fiscal 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.