Royce & Associates LP Lowers Stock Holdings in Mercury Systems Inc $MRCY

Royce & Associates LP lowered its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,079 shares of the technology company’s stock after selling 11,380 shares during the quarter. Royce & Associates LP’s holdings in Mercury Systems were worth $14,389,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRCY. AQR Capital Management LLC purchased a new position in Mercury Systems during the first quarter worth approximately $755,000. Goldman Sachs Group Inc. boosted its position in Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Mercury Systems by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after purchasing an additional 18,916 shares in the last quarter. Jane Street Group LLC boosted its position in Mercury Systems by 161.3% during the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after purchasing an additional 31,337 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Mercury Systems by 30.3% during the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after purchasing an additional 29,057 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $97.11 on Thursday. Mercury Systems Inc has a one year low of $47.53 and a one year high of $103.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. The stock has a market cap of $5.83 billion, a PE ratio of -404.63 and a beta of 0.83. The stock has a 50 day moving average price of $83.52 and a 200 day moving average price of $82.34.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly 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. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts expect that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised their target price on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research 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. Finally, Jefferies Financial Group restated a “hold” rating and issued a $95.00 target price on shares of Mercury Systems in a research report on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.89.

Insider Transactions at Mercury Systems

In other Mercury Systems 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the sale, the executive vice president directly owned 157,701 shares of the company’s stock, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 473,932 shares of company stock valued at $43,453,119. 1.40% of the stock is currently owned by company insiders.

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.