Renesas Electronics (OTCMKTS:RNECY) Shares Down 15.5% – Here’s Why

Renesas Electronics Co. (OTCMKTS:RNECY)’s share price traded down 15.5% during trading on Friday . The company traded as low as $12.59 and last traded at $12.79. 1,535,916 shares traded hands during mid-day trading, an increase of 108% from the average session volume of 737,418 shares. The stock had previously closed at $15.1350.

Renesas Electronics Price Performance

The firm’s fifty day moving average is $10.39 and its two-hundred day moving average is $8.60.

Renesas Electronics (OTCMKTS:RNECY) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.82 by ($29.70). The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $373.76 billion.

About Renesas Electronics

Renesas Electronics (OTCMKTS:RNECY) is a global semiconductor manufacturer specializing in microcontrollers, system-on-chip (SoC) devices, analog and power management solutions. The company’s products are designed to address a wide range of applications in automotive electronics, industrial automation, consumer devices, and communications infrastructure. Renesas leverages its expertise in embedded processing and mixed-signal technologies to deliver integrated solutions that help customers reduce development time and improve energy efficiency.

The company’s product portfolio includes 32-bit and 16-bit microcontrollers, application processors, analog and power discrete devices, and sensor interface ICs.