Brokerages Set Mercury Systems Inc (NASDAQ:MRCY) PT at $83.25

Mercury Systems Inc (NASDAQ:MRCY) has been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $83.25.

A number of research analysts have recently commented on MRCY shares. Truist Financial set a $102.00 price target on Mercury Systems in a research note on Friday, January 9th. Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. The Goldman Sachs Group increased their target price on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of Mercury Systems in a research note on Wednesday, November 5th.

Mercury Systems Trading Down 4.5%

MRCY opened at $93.88 on Thursday. The company’s 50 day moving average is $81.65 and its 200-day moving average is $73.52. Mercury Systems has a 1-year low of $39.89 and a 1-year high of $103.84. The company has a current ratio of 3.37, a quick ratio of 2.31 and a debt-to-equity ratio of 0.40. The company has a market cap of $5.64 billion, a P/E ratio of -164.70, a PEG ratio of 4.36 and a beta of 0.78.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. The business had revenue of $225.21 million during the quarter, compared to analysts’ expectations of $207.28 million. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Equities research analysts predict that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 1,000,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $75.45, for a total value of $75,450,000.00. Following the completion of the sale, the director directly owned 4,966,675 shares in the company, valued at $374,735,628.75. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Debora A. Plunkett sold 1,700 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $73.99, for a total value of $125,783.00. Following the transaction, the director directly owned 16,833 shares of the company’s stock, valued at approximately $1,245,473.67. This represents a 9.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,003,029 shares of company stock worth $75,673,358. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently made changes to their positions in MRCY. Invesco Ltd. lifted its stake in shares of Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock worth $118,224,000 after acquiring an additional 943,736 shares during the period. Loomis Sayles & Co. L P increased its position in Mercury Systems by 321.7% in the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock valued at $53,462,000 after buying an additional 757,216 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after acquiring an additional 751,813 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Mercury Systems by 287.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock worth $56,328,000 after purchasing an additional 514,756 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new stake in Mercury Systems in the 2nd quarter valued at $24,599,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.