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

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

Analysts Set New Price Targets

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

Mercury Systems Price Performance

The business’s 50 day moving average is $90.46 and its two-hundred day moving average is $85.19. The firm has a market capitalization of $7.17 billion, a PE ratio of -493.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results 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. The business had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. Mercury Systems’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. As a group, research analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current year.

Insider Activity at Mercury Systems

In related news, EVP David E. Farnsworth sold 3,625 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the sale, the executive vice president directly owned 157,701 shares of the company’s stock, valued at $13,384,083.87. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 completion of the sale, the executive vice president directly owned 32,238 shares in the company, valued at $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 21,875 shares of company stock valued at $2,040,874. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

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

Mercury Systems Company Profile

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.