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

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 traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MRAAY. Citigroup upgraded shares of Murata Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Zacks Research upgraded shares of Murata Manufacturing to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Murata Manufacturing has an average rating of “Buy”.

Murata Manufacturing Price Performance

The firm has a 50-day moving average of $26.40 and a two-hundred day moving average of $16.64. The stock has a market capitalization of $119.48 billion, a price-to-earnings ratio of 77.80 and a beta of 1.57.

Murata Manufacturing (OTCMKTS:MRAAY) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Murata Manufacturing had a return on equity of 8.97% and a net margin of 12.80%.The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.91 billion. As a group, sell-side analysts predict that Murata Manufacturing Inc. will post 0.55 EPS for the current 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.