Mercury Systems (NASDAQ:MRCY) Reaches New 52-Week High – Still a Buy?

Mercury Systems Inc (NASDAQ:MRCY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $122.64 and last traded at $122.33, with a volume of 967205 shares. The stock had previously closed at $110.22.

Analysts Set New Price Targets

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

Mercury Systems Stock Performance

The company has a market cap of $7.58 billion, a PE ratio of -525.88 and a beta of 0.93. 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 firm’s 50 day moving average is $101.62 and its 200-day moving average is $90.17.

Mercury Systems (NASDAQ:MRCY) last released its 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. 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 company posted $0.06 EPS. The business’s revenue was up 11.5% on a year-over-year basis. On average, research analysts anticipate that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares in the company, valued at $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 business’s stock in a transaction dated Tuesday, May 12th. The shares were 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 $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,875 shares of company stock valued at $2,040,874 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Mercury Systems by 12.1% in 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. boosted its stake in Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after buying an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Mercury Systems by 1.4% during 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 during the last quarter. First Trust Advisors LP increased its position in shares of Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after acquiring an additional 751,813 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Mercury Systems by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock valued at $99,940,000 after acquiring an additional 47,174 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.