Short Interest in Murata Manufacturing Inc. (OTCMKTS:MRAAY) Decreases By 44.6%

Key Points

• Short interest fell 44.6% to 111,690 shares by July 15 from 201,648 shares on June 30, representing virtually 0% of shares outstanding and just 0.1 days to cover.
• Murata shares declined 12.3% to $19.04, while trading volume exceeded its average. The stock has a market capitalization of $69.62 billion and trades at a price-to-earnings ratio of 45.33.
• The company beat quarterly expectations with earnings of $0.13 per share versus a $0.10 estimate and revenue of $2.94 billion. Analyst sentiment is broadly positive, with an average rating of “Buy” after Citigroup upgraded the stock to “strong buy.”

Murata Manufacturing Inc. (OTCMKTS:MRAAY - Get Free Report) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 111,690 shares, a drop of 44.6% from the June 30th total of 201,648 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 1,694,343 shares, the days-to-cover ratio is presently 0.1 days.

Murata Manufacturing Stock Down 12.3%

OTCMKTS:MRAAY traded down $2.66 during trading hours on Wednesday, reaching $19.04. 957,085 shares of the company's stock were exchanged, compared to its average volume of 590,077. The firm has a market capitalization of $69.62 billion, a price-to-earnings ratio of 45.33 and a beta of 1.57. The company has a 50-day moving average of $29.44 and a 200 day moving average of $18.63. Murata Manufacturing has a 1-year low of $7.08 and a 1-year high of $38.72.

Murata Manufacturing (OTCMKTS:MRAAY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.91 billion. Research analysts forecast that Murata Manufacturing will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRAAY. Zacks Research raised Murata Manufacturing to a "hold" rating in a report on Monday, April 27th. Citigroup raised Murata Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

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.

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