Mercury Systems (NASDAQ:MRCY) Trading Up 8.1% – Time to Buy?

Mercury Systems Inc (NASDAQ:MRCY) was up 8.1% during mid-day trading on Monday . The company traded as high as $103.99 and last traded at $104.9760. 72,826 shares were traded during trading, a decline of 89% from the average session volume of 657,548 shares. The stock had previously closed at $97.10.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MRCY shares. Canaccord Genuity Group upped their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group raised their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Friday, July 17th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price target on shares of Mercury Systems in a research note on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mercury Systems currently has an average rating of “Moderate Buy” and a consensus target price of $95.78.

Mercury Systems Trading Up 6.6%

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm has a market capitalization of $6.77 billion, a PE ratio of -470.00 and a beta of 0.95. The business’s 50-day moving average price is $108.89 and its 200-day moving average price is $94.22.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. As a group, analysts expect that Mercury Systems Inc will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Orlando D. Carvalho sold 7,000 shares of the 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 sale, 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,250 shares of company stock valued at $1,733,220. Insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. State Street Corp grew 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. raised its stake in shares of 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 purchasing an additional 383,299 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake 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 worth $112,644,000 after purchasing an additional 21,182 shares during the last quarter. Geode Capital Management LLC raised its stake 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 during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Mercury Systems by 46.9% during the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock worth $68,158,000 after purchasing an additional 298,298 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.