Mercury Systems (NASDAQ:MRCY) Hits New 1-Year High – What’s Next?

Mercury Systems Inc (NASDAQ:MRCY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $119.00 and last traded at $119.7790, with a volume of 398015 shares traded. The stock had previously closed at $106.81.

Analyst Ratings Changes

Several brokerages have commented on MRCY. Canaccord Genuity Group raised their target price on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 target price on shares of Mercury Systems in a report on Monday, June 1st. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group raised their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Stock Up 0.8%

The business’s 50-day moving average price is $92.30 and its 200-day moving average price is $85.80. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $7.22 billion, a PE ratio of -501.25 and a beta of 0.94.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. As a group, equities research analysts predict that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In related news, EVP Steven Ratner sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the transaction, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. The trade was a 11.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,875 shares of company stock valued at $2,040,874 over the last ninety days. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRCY. Invesco Ltd. raised its position in Mercury Systems by 161.7% during the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after acquiring an additional 943,736 shares in the last quarter. First Trust Advisors LP raised its position in Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after acquiring an additional 751,813 shares in the last quarter. State Street Corp raised its position in Mercury Systems by 12.1% during the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after acquiring an additional 368,242 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Mercury Systems by 46.9% during the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after acquiring an additional 298,298 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.