Mercury Systems (NASDAQ:MRCY) Shares Up 9.5% – Still a Buy?

Shares of Mercury Systems Inc (NASDAQ:MRCY) rose 9.5% on Tuesday . The stock traded as high as $120.00 and last traded at $120.7360. 366,781 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 666,647 shares. The stock had previously closed at $110.22.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MRCY shares. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $105.00 target price on shares of Mercury Systems in a report on Monday, June 1st. Finally, Canaccord Genuity Group boosted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Mercury Systems presently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Stock Performance

The stock has a 50 day moving average of $99.22 and a two-hundred day moving average of $89.15. The stock has a market capitalization of $7.27 billion, a PE ratio of -504.95 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 released its quarterly earnings data 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. The firm had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.Mercury Systems’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. Research analysts expect that Mercury Systems Inc will post 0.31 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In related news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing 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 dated Tuesday, May 26th. The stock was 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. Insiders have sold 21,875 shares of company stock worth $2,040,874 over the last three months. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Mercury Systems

A number of institutional investors have recently bought and sold shares of MRCY. Signaturefd LLC boosted 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 worth $59,000 after buying an additional 107 shares in the last quarter. Maryland State Retirement & Pension System raised its position 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 acquiring an additional 134 shares during the last quarter. GAMMA Investing LLC raised its position in Mercury Systems by 11.3% during the fourth quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company’s stock worth $130,000 after acquiring an additional 181 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of 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 valued at $880,000 after purchasing an additional 187 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of 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 purchasing an additional 195 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.