JPMorgan Chase & Co. Increases Mercury Systems (NASDAQ:MRCY) Price Target to $101.00

Mercury Systems (NASDAQ:MRCYGet Free Report) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $99.00 to $101.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 1.45% from the company’s previous close.

Several other brokerages have also commented on MRCY. Canaccord Genuity Group increased 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday. The Goldman Sachs Group increased their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Finally, Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

Read Our Latest Stock Report on Mercury Systems

Mercury Systems Stock Down 5.1%

Shares of NASDAQ MRCY traded down $5.50 during mid-day trading on Monday, reaching $102.48. 166,370 shares of the company 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 firm has a 50-day moving average of $106.26 and a 200 day moving average of $92.08. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of -427.32 and a beta of 0.93. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCYGet Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during 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 revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. On average, research analysts expect that Mercury Systems will post 0.3 earnings per share for the current year.

Insider Buying and Selling at Mercury Systems

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

Hedge Funds Weigh In On Mercury Systems

Several large investors have recently bought and sold shares of MRCY. AQR Capital Management LLC purchased a new position in Mercury Systems during the 1st quarter worth approximately $755,000. Goldman Sachs Group Inc. increased its stake in Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Mercury Systems by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after acquiring an additional 18,916 shares during the period. Jane Street Group LLC boosted its stake in shares of Mercury Systems by 161.3% in the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after buying an additional 31,337 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Mercury Systems by 30.3% in the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock valued at $6,731,000 after buying an additional 29,057 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

About Mercury Systems

(Get Free Report)

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.

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