Louisiana State Employees Retirement System Invests $1.71 Million in Mercury Systems Inc $MRCY

Louisiana State Employees Retirement System purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,400 shares of the technology company’s stock, valued at approximately $1,706,000.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after buying an additional 368,242 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mercury Systems by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock valued at $139,503,000 after acquiring an additional 383,299 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Mercury Systems by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after acquiring an additional 21,182 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after acquiring an additional 751,813 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Mercury Systems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after purchasing an additional 47,174 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mercury Systems

In other news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president directly owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director owned 52,448 shares in the company, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $123.05 on Thursday. Mercury Systems Inc has a 52 week low of $49.54 and a 52 week high of $127.83. The stock’s fifty day moving average is $100.77 and its two-hundred day moving average is $89.81. The company has a market capitalization of $7.39 billion, a P/E ratio of -512.71 and a beta of 0.94. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. Equities analysts expect that Mercury Systems Inc will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group reissued a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. The Goldman Sachs Group increased their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Two investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

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.