Murata Manufacturing Stock Gains On Q1 Earnings Growth Aided By Automotive And Smartphone Demand

July 29, 2021 2:29 PM | 1 min read | Make a Comment

Murata Manufacturing Co Ltd MRAAY reported first-quarter FY21 net sales growth of 34.5% year-on-year to ¥439.6 billion.
An increase in capacitors for automotive electronics and smartphones and SAW filters, inductors, and RF modules for smartphones drove the numbers.
The operating margin expanded 820 bps to 23.9%.
The net income rose 95.1% Y/Y to ¥77.2 billion.
Murata generated ¥58.1 billion in operating cash flow and held ¥373.7 billion in cash and equivalents.
Outlook: The company sees FY21 net sales of ¥1.73 billion.
Price action: MRAAY shares traded higher by 6.39% at $21.8 on the last check Thursday.