Murata Manufacturing (OTCMKTS:MRAAY) Trading Down 11.5% – Here’s What Happened

Shares of Murata Manufacturing Inc. (OTCMKTS:MRAAY) dropped 11.5% during trading on Wednesday . The stock traded as low as $19.01 and last traded at $19.2025. 112,264 shares changed hands during trading, a decline of 81% from the average session volume of 587,081 shares. The stock had previously closed at $21.70.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Zacks Research raised shares of Murata Manufacturing to a “hold” rating in a report on Monday, April 27th. Citigroup upgraded shares of Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a report 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Murata Manufacturing Price Performance

The company has a 50 day moving average price of $29.44 and a two-hundred day moving average price of $18.63. The stock has a market cap of $68.89 billion, a PE ratio of 44.86 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.13 EPS 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 company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.91 billion. As a group, equities analysts predict 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.