Rice Hall James & Associates LLC bought a new position in shares of Mercury Systems Inc (NASDAQ:MRCY – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 39,775 shares of the technology company’s stock, valued at approximately $4,866,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Mercury Systems by 161.7% during the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after purchasing an additional 943,736 shares in the last quarter. State Street Corp raised its position in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after purchasing an additional 368,242 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Mercury Systems in the 2nd quarter valued at approximately $38,438,000. Segall Bryant & Hamill LLC boosted its stake in shares of Mercury Systems by 46.9% during the 1st quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after buying an additional 298,298 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after buying an additional 290,989 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research report on Friday, July 10th. Finally, The Goldman Sachs Group upped their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.00.
Insider Activity
In related news, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Mercury Systems Price Performance
Shares of MRCY opened at $113.36 on Tuesday. Mercury Systems Inc has a 52 week low of $62.78 and a 52 week high of $128.45. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -472.33 and a beta of 0.95. The stock has a 50 day moving average of $108.80 and a 200-day moving average of $94.82.
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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