Murata Manufacturing (OTCMKTS:MRAAY) Upgraded by Citigroup to Strong-Buy Rating

Murata Manufacturing (OTCMKTS:MRAAY) was upgraded by investment analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Separately, Zacks Research upgraded shares of Murata Manufacturing to a “hold” rating in a research note on Monday, April 27th. 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 data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Murata Manufacturing Price Performance

Shares of MRAAY stock opened at $34.90 on Monday. The stock’s 50-day moving average is $24.84 and its 200 day moving average is $16.01. Murata Manufacturing has a 1-year low of $6.95 and a 1-year high of $38.72. The company has a market cap of $127.61 billion, a P/E ratio of 83.10 and a beta of 1.59.

Murata Manufacturing (OTCMKTS:MRAAY) last released its quarterly earnings results 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 net margin of 12.80% and a return on equity of 8.97%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.91 billion. On average, analysts anticipate that Murata Manufacturing 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.