Corecam Pte. Ltd. Invests $321,000 in Mercury Systems Inc $MRCY

Corecam Pte. Ltd. purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 4,396 shares of the technology company’s stock, valued at approximately $321,000.

Several other institutional investors have also recently bought and sold shares of MRCY. Osaic Holdings Inc. boosted its stake in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $35,000. Hollencrest Capital Management bought a new position in Mercury Systems in the 4th quarter worth approximately $37,000. Federated Hermes Inc. acquired a new stake in shares of Mercury Systems in the 2nd quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Mercury Systems by 33.7% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group lifted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Monday, June 1st. The Goldman Sachs Group raised their price objective 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.00.

Insiders Place Their Bets

In other news, EVP David E. Farnsworth sold 3,625 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $84.87, for a total transaction of $307,653.75. Following the sale, the executive vice president owned 157,701 shares of the company’s stock, valued at $13,384,083.87. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY opened at $113.91 on Friday. The firm’s 50 day simple moving average is $96.08 and its 200 day simple moving average is $87.39. Mercury Systems Inc has a fifty-two week low of $49.03 and a fifty-two week high of $122.17. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of -474.62 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last issued its 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 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%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, sell-side analysts forecast that Mercury Systems Inc will post 0.31 earnings per share for the current year.

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.