UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Mercury Systems Inc $MRCY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Mercury Systems Inc (NASDAQ:MRCY) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 122,585 shares of the technology company’s stock after acquiring an additional 6,413 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Mercury Systems were worth $14,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MRCY. BlackRock Inc. purchased a new position in Mercury Systems in the second quarter worth about $1,146,342,000. State Street Corp increased its position in shares of Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after purchasing an additional 368,242 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Mercury Systems by 25.1% in the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after purchasing an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Mercury Systems by 1.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock worth $112,644,000 after purchasing an additional 21,182 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Mercury Systems by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after buying an additional 47,174 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada lifted their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Canaccord Genuity Group boosted their price objective on shares of Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price objective on shares of Mercury Systems in a research report on Friday, July 10th. Finally, The Goldman Sachs Group lifted their target price on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $110.10.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $82.42 on Friday. The company has a market capitalization of $4.96 billion, a P/E ratio of -164.84 and a beta of 0.98. Mercury Systems Inc has a 1-year low of $65.04 and a 1-year high of $128.45. The firm’s 50 day simple moving average is $102.57 and its two-hundred day simple moving average is $95.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. Research analysts expect that Mercury Systems Inc will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David E. Farnsworth sold 6,612 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $97.67, for a total transaction of $645,794.04. Following the completion of the sale, the executive vice president owned 117,967 shares in the company, valued at approximately $11,521,836.89. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 49,090 shares of Mercury Systems stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $89.10, for a total value of $4,373,919.00. Following the sale, the chief executive officer directly owned 361,822 shares in the company, valued at $32,238,340.20. This trade represents a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 446,186 shares of company stock worth $41,432,610 in the last three months. 1.40% of the stock is owned by company insiders.

Mercury Systems 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.