Wells Fargo & Company MN increased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 323.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,230,421 shares of the technology company’s stock after purchasing an additional 1,703,774 shares during the quarter. Wells Fargo & Company MN owned 4.83% of Mercury Systems worth $93,878,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MRCY. Bank of Montreal Can increased its position in shares of Mercury Systems by 29.2% during the 2nd quarter. Bank of Montreal Can now owns 2,459 shares of the technology company’s stock worth $104,000 after purchasing an additional 556 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of Mercury Systems by 18.6% during the 1st quarter. Flinton Capital Management LLC now owns 2,822 shares of the technology company’s stock worth $110,000 after purchasing an additional 442 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Mercury Systems during the 1st quarter worth about $116,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Mercury Systems during the 1st quarter worth about $153,000. Finally, LS Investment Advisors LLC increased its position in shares of Mercury Systems by 219.1% during the 1st quarter. LS Investment Advisors LLC now owns 4,799 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,295 shares during the last quarter. 96.67% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Charles A. Speicher sold 7,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $44.09, for a total value of $308,630.00. Following the completion of the transaction, the vice president now owns 36,983 shares of the company’s stock, valued at $1,630,580.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.50% of the company’s stock.
Shares of Mercury Systems Inc (MRCY) opened at 47.11 on Wednesday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 81.22 and a beta of 0.42. The stock’s 50 day moving average price is $46.04 and its 200 day moving average price is $41.30. Mercury Systems Inc has a 12 month low of $21.52 and a 12 month high of $49.24.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $115.60 million during the quarter, compared to the consensus estimate of $115.11 million. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. Mercury Systems’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. Equities research analysts predict that Mercury Systems Inc will post $1.24 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the company. Noble Financial restated a “hold” rating on shares of Mercury Systems in a report on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and set a $45.00 target price on shares of Mercury Systems in a report on Wednesday, August 2nd. Zacks Investment Research cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Mercury Systems currently has an average rating of “Buy” and a consensus price target of $43.00.
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Mercury Systems Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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