Murata Manufacturing Co Ltd
6981: XTKS (JPN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥9,162.00 | Tjwy | Svybflldx |
Cutting Murata's FVE to JPY 10,800 Due to Weaker Smartphone Demand; Long-Term Growth Outlook Intact
Business Strategy and Outlook
Murata Manufacturing is a top supplier of passive components, such as the multilayer ceramic capacitor, or MLCC (40% global share), and surface acoustic wave, or SAW, filters (40%-45% global share). While we acknowledge that shipments of digital devices are slowing down, we believe progress in telecommunications technology will be the driver to increase content per device.