Murata Manufacturing (OTCMKTS:MRAAY) Shares Gap Down – Here’s Why

Murata Manufacturing Inc. (OTCMKTS:MRAAY) gapped down prior to trading on Monday . The stock had previously closed at $30.90, but opened at $27.80. Murata Manufacturing shares last traded at $28.0025, with a volume of 49,449 shares.

Analyst Ratings Changes

MRAAY has been the subject of a number of research analyst reports. Zacks Research upgraded Murata Manufacturing to a “hold” rating in a research note 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Murata Manufacturing has a consensus rating of “Buy”.

Murata Manufacturing Trading Down 9.4%

The firm has a 50-day simple moving average of $27.86 and a two-hundred day simple moving average of $17.37. The company has a market capitalization of $102.31 billion, a price-to-earnings ratio of 66.62 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last issued its earnings results on Thursday, April 30th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.91 billion. Murata Manufacturing had a return on equity of 8.97% and a net margin of 12.80%. Equities research analysts anticipate 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.