Mercury Systems Inc (NASDAQ:MRCY) Receives Average Rating of “Hold” from Brokerages

Mercury Systems Inc (NASDAQ:MRCY) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $86.3333.

MRCY has been the subject of a number of recent analyst reports. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Truist Financial upped their price target on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a report on Wednesday, February 4th.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $84.82 on Tuesday. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -160.03, a P/E/G ratio of 8.14 and a beta of 0.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The firm’s 50-day simple moving average is $82.04 and its 200 day simple moving average is $80.51. Mercury Systems has a 52 week low of $44.01 and a 52 week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Mercury Systems will post 0.18 earnings per share for the current year.

Insider Transactions at Mercury Systems

In other news, EVP David E. Farnsworth sold 3,625 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were 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 in the company, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Stuart Kupinsky sold 2,287 shares of Mercury Systems stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the sale, the executive vice president directly owned 68,010 shares of the company’s stock, valued at $5,682,915.60. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 863,383 shares of company stock worth $74,789,584. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Large investors have recently modified their holdings of the company. Emerald Advisers LLC lifted its holdings in shares of Mercury Systems by 16.7% in the 3rd quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company’s stock worth $41,261,000 after acquiring an additional 76,379 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Mercury Systems by 42.8% during the third quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company’s stock valued at $17,444,000 after buying an additional 67,518 shares during the period. Nordea Investment Management AB purchased a new stake in Mercury Systems during the fourth quarter valued at about $4,954,000. Cresset Asset Management LLC bought a new position in shares of Mercury Systems during the third quarter valued at about $1,862,000. Finally, Public Sector Pension Investment Board lifted its position in Mercury Systems by 18.7% in the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock valued at $15,917,000 after purchasing an additional 32,443 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Company Profile

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.