Mercury Systems (NASDAQ:MRCY) Given New $101.00 Price Target at JPMorgan Chase & Co.

Mercury Systems (NASDAQ:MRCY) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $99.00 to $101.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 1.45% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Mercury Systems Stock Down 5.1%

Mercury Systems stock traded down $5.50 during midday trading on Monday, hitting $102.48. 166,370 shares of the stock were exchanged, compared to its average volume of 660,032. Mercury Systems has a 1 year low of $49.86 and a 1 year high of $128.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm has a market cap of $6.15 billion, a P/E ratio of -427.32 and a beta of 0.93. The company has a 50 day moving average price of $106.26 and a two-hundred day moving average price of $92.08.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same period in the prior year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts predict that Mercury Systems will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the transaction, the director directly owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $35,000. Hollencrest Capital Management acquired a new position in shares of Mercury Systems during the fourth quarter valued at $37,000. Federated Hermes Inc. bought a new position in Mercury Systems in the second quarter valued at about $43,000. Finally, Rockefeller Capital Management L.P. increased its position in Mercury Systems by 53.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after purchasing an additional 228 shares during the period. 95.99% of the stock is owned by institutional investors.

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.