Murata Manufacturing (OTCMKTS:MRAAY) Shares Gap Up – Here’s What Happened

Shares of Murata Manufacturing Inc. (OTCMKTS:MRAAY – Get Free Report) gapped up before the market opened on Friday. The stock had previously closed at $14.17, but opened at $15.70. Murata Manufacturing shares last traded at $15.92, with a volume of 81,564 shares trading hands.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein initiated coverage on shares of Murata Manufacturing in a research report on Tuesday, September 15th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Read Our Latest Research Report on MRAAY

Murata Manufacturing Stock Up 11.9%

The company has a market cap of $57.96 billion, a P/E ratio of 31.70 and a beta of 1.83. The firm’s 50-day moving average price is $23.18 and its 200-day moving average price is $20.47.

Murata Manufacturing (OTCMKTS:MRAAY – Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Murata Manufacturing had a return on equity of 10.44% and a net margin of 14.19%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts forecast that Murata Manufacturing Inc. will post 0.69 earnings per share for the current year.

Murata Manufacturing Company Profile

(Get Free Report)

Murata Manufacturing Co, Ltd. is a Japanese electronic components manufacturer that develops and produces components, modules and devices used in a broad range of electronic equipment. Its product portfolio includes multilayer ceramic capacitors, inductors, filters, timing devices, sensors, wireless connectivity modules and power-related components.

The company’s products support applications in smartphones, computers, automobiles, industrial equipment, healthcare devices and other consumer and communications electronics.

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