BlackRock Inc. lowered its position in Mercury Systems Inc (NASDAQ:MRCY) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,630,323 shares of the technology company’s stock after selling 16,049 shares during the quarter. BlackRock Inc. owned about 14.35% of Mercury Systems worth $279,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MRCY. Bank of Montreal Can increased its position in Mercury Systems by 29.2% during the second quarter. Bank of Montreal Can now owns 2,459 shares of the technology company’s stock worth $104,000 after purchasing an additional 556 shares during the last quarter. Private Advisor Group LLC purchased a new position in Mercury Systems during the first quarter worth about $116,000. Ameritas Investment Partners Inc. purchased a new position in Mercury Systems during the first quarter worth about $153,000. Westpac Banking Corp acquired a new position in Mercury Systems in the 1st quarter valued at about $199,000. Finally, Riverhead Capital Management LLC boosted its holdings in Mercury Systems by 74.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,897 shares of the technology company’s stock valued at $206,000 after purchasing an additional 2,097 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.

Shares of Mercury Systems Inc (MRCY) opened at 52.71 on Wednesday. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 90.88 and a beta of 0.41. The company has a 50-day moving average of $48.20 and a 200 day moving average of $42.58. Mercury Systems Inc has a one year low of $22.31 and a one year high of $52.94.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 1st. The technology company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The firm had revenue of $115.60 million during the quarter, compared to analysts’ expectations of $115.11 million. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. Mercury Systems’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. Equities research analysts forecast that Mercury Systems Inc will post $1.24 earnings per share for the current fiscal year.

Several research firms have recently weighed in on MRCY. SunTrust Banks, Inc. reissued a “buy” rating and issued a $51.00 price target on shares of Mercury Systems in a research note on Monday. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, June 8th. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $45.00 price target on shares of Mercury Systems in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Mercury Systems presently has a consensus rating of “Buy” and an average target price of $45.50.

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In other news, CEO Mark Aslett sold 4,800 shares of Mercury Systems stock in a transaction on Monday, September 11th. The stock was sold at an average price of $47.42, for a total value of $227,616.00. Following the completion of the sale, the chief executive officer now owns 519,382 shares of the company’s stock, valued at $24,629,094.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Charles A. Speicher sold 7,000 shares of Mercury Systems stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total value of $308,630.00. Following the completion of the sale, the vice president now directly owns 36,983 shares of the company’s stock, valued at approximately $1,630,580.47. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $1,120,368 over the last quarter. 3.50% of the stock is currently owned by insiders.

About Mercury Systems

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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