Murata Manufacturing Inc. (OTCMKTS:MRAAY) Shares Shorted: Short Interest Down 39.3% in October

Key Points

• Short interest fell 39.3% in October to 423,646 shares, representing approximately 0.0% of Murata Manufacturing’s outstanding stock and just 0.4 days to cover.
• Murata shares opened at $19.73, down 9.1%, with a market capitalization of $72.14 billion and a price-to-earnings ratio of 39.46.
• The company matched quarterly earnings expectations at $0.18 per share while beating revenue estimates with $3.70 billion; analysts maintain a consensus “Buy” rating.

Murata Manufacturing Inc. (OTCMKTS:MRAAY - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 423,646 shares, a decrease of 39.3% from the September 30th total of 697,955 shares. Based on an average daily volume of 1,099,487 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company's stock are short sold.

Murata Manufacturing Stock Down 9.1%

OTCMKTS MRAAY opened at $19.73 on Friday. Murata Manufacturing has a 52 week low of $9.33 and a 52 week high of $38.72. The company has a 50 day moving average price of $23.51 and a 200 day moving average price of $20.32. The firm has a market cap of $72.14 billion, a PE ratio of 39.46 and a beta of 1.66.

Murata Manufacturing (OTCMKTS:MRAAY - Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.53 billion. Murata Manufacturing had a net margin of 13.86% and a return on equity of 9.84%. On average, equities research analysts anticipate that Murata Manufacturing will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein began coverage on Murata Manufacturing in a research note on Tuesday, September 15th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy".

About Murata Manufacturing

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.

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