Mercury Systems (NASDAQ:MRCY) Issues Earnings Results

Mercury Systems (NASDAQ:MRCY) released its quarterly earnings results on Tuesday. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01), FiscalAI reports. The company had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%.

Mercury Systems Stock Performance

Shares of MRCY traded down $8.36 on Tuesday, reaching $105.00. 1,882,623 shares of the company’s stock traded hands, compared to its average volume of 659,393. The stock’s 50 day simple moving average is $108.80 and its two-hundred day simple moving average is $94.82. The stock has a market cap of $6.30 billion, a PE ratio of -437.50 and a beta of 0.95. Mercury Systems has a 52-week low of $62.78 and a 52-week high of $128.45. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40.

Insider Transactions at Mercury Systems

In other news, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Mercury Systems by 12.1% in the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after acquiring an additional 368,242 shares during the period. Invesco Ltd. increased its stake in shares of Mercury Systems by 25.1% during 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 last quarter. T. Rowe Price Investment Management Inc. raised its holdings 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. Goldman Sachs Group Inc. lifted its stake in Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Mercury Systems by 0.6% during the fourth quarter. Van ECK Associates Corp now owns 725,387 shares of the technology company’s stock valued at $52,961,000 after purchasing an additional 4,531 shares during the period. Institutional investors own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRCY. Truist Financial raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group raised their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upped their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Mercury Systems to a “hold” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $102.00.

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.