Mercury Systems Inc $MRCY Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,368,659 shares of the technology company’s stock after purchasing an additional 47,174 shares during the period. Geode Capital Management LLC owned about 2.28% of Mercury Systems worth $99,940,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MRCY. Nordea Investment Management AB acquired a new position in Mercury Systems during the fourth quarter valued at $4,954,000. Cresset Asset Management LLC acquired a new position in Mercury Systems during the third quarter valued at $1,862,000. Public Sector Pension Investment Board raised its position in Mercury Systems by 18.7% during 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 buying an additional 32,443 shares during the period. Penn Capital Management Company LLC acquired a new position in Mercury Systems during the third quarter valued at $14,292,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Mercury Systems during the third quarter valued at $2,508,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the transaction, the executive vice president directly owned 157,701 shares in the company, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the sale, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,875 shares of company stock valued at $2,040,874. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MRCY shares. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. The Goldman Sachs Group boosted their target price on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 target price on shares of Mercury Systems in a research note on Monday, June 1st. Finally, Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $111.27 on Friday. Mercury Systems Inc has a fifty-two week low of $48.75 and a fifty-two week high of $118.57. The business has a 50-day moving average of $88.28 and a two-hundred day moving average of $84.20. The stock has a market capitalization of $6.68 billion, a P/E ratio of -463.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same period last year, the business posted $0.06 EPS. Mercury Systems’s revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

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.