Murata Manufacturing (OTCMKTS:MRAAY) Stock Falls 8% – Here’s Why

Murata Manufacturing Inc. (OTCMKTS:MRAAY)’s share price dropped 8% during mid-day trading on Monday. The company traded as low as $19.84 and last traded at $19.96. 5,181,455 shares were traded during mid-day trading, an increase of 705% from the average daily volume of 643,608 shares. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

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

Murata Manufacturing Price Performance

The firm has a 50-day moving average of $23.51 and a 200 day moving average of $20.32. The company has a market capitalization of $73.64 billion, a PE ratio of 40.28 and a beta of 1.66.

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

Murata Manufacturing Company Profile

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.