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

Murata Manufacturing Inc. (OTCMKTS:MRAAY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $36.01, but opened at $34.72. Murata Manufacturing shares last traded at $34.40, with a volume of 73,209 shares changing hands.

Wall Street Analyst Weigh In

MRAAY has been the topic of a number of recent analyst reports. Citigroup upgraded Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Monday. Zacks Research raised shares of Murata Manufacturing to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Murata Manufacturing Price Performance

The business has a fifty day simple moving average of $25.69 and a two-hundred day simple moving average of $16.37. The company has a market cap of $121.86 billion, a PE ratio of 79.35 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business 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%. On average, equities research analysts predict 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.