Mercury Systems Inc (NASDAQ:MRCY – Get Free Report) shot up 8.1% during mid-day trading on Monday . The stock traded as high as $103.99 and last traded at $104.9760. 72,826 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 657,548 shares. The stock had previously closed at $97.10.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Canaccord Genuity Group boosted their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.
Check Out Our Latest Stock Analysis on Mercury Systems
Mercury Systems Stock Up 8.6%
Mercury Systems (NASDAQ:MRCY – Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Mercury Systems Inc will post 0.33 EPS for the current fiscal year.
Insider Buying and Selling at Mercury Systems
In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems 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 owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was 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. In the last 90 days, insiders sold 18,250 shares of company stock worth $1,733,220. Insiders own 1.40% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in shares of Mercury Systems by 15.4% during the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock worth $59,000 after purchasing an additional 107 shares during the period. Maryland State Retirement & Pension System increased its holdings in Mercury Systems by 1.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after buying an additional 134 shares during the last quarter. GAMMA Investing LLC raised its position in Mercury Systems by 8.5% in the second quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock worth $243,000 after acquiring an additional 155 shares during the period. Oregon Public Employees Retirement Fund raised its position in Mercury Systems by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock worth $880,000 after acquiring an additional 187 shares during the period. Finally, Arizona State Retirement System boosted its stake in Mercury Systems by 1.3% in the fourth quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock valued at $1,111,000 after acquiring an additional 195 shares during 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.
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