Zacks Research upgraded shares of Mercury Systems (NASDAQ:MRCY – Free Report) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.
A number of other research analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group reiterated a “hold” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. The Goldman Sachs Group lifted their price target 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 raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Three investment 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 given a Sell rating to the stock. According to MarketBeat, Mercury Systems presently has a consensus rating of “Moderate Buy” and an average price target of $91.00.
View Our Latest Analysis on MRCY
Mercury Systems Price Performance
Mercury Systems (NASDAQ:MRCY – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The firm had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. On average, analysts predict that Mercury Systems will post 0.31 EPS for the current fiscal year.
Insider Activity at Mercury Systems
In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the business’s 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 sale, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Howard L. Lance sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Mercury Systems
A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Mercury Systems by 15.4% in the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock valued at $59,000 after acquiring an additional 107 shares during the period. Maryland State Retirement & Pension System lifted its position in Mercury Systems by 1.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after acquiring an additional 134 shares during the period. GAMMA Investing LLC lifted its position in Mercury Systems by 8.5% during the 2nd 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 grew its stake in Mercury Systems by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock valued at $880,000 after purchasing an additional 187 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Mercury Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 195 shares during 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.
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