Mercury Systems (NASDAQ:MRCY) Hits New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

Several brokerages recently commented on MRCY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group lifted their target price 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 target price on shares of Mercury Systems in a report on Monday, June 1st. Finally, 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. Two 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 has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Stock Performance

The firm’s 50 day moving average price is $99.99 and its two-hundred day moving average price is $89.48. 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 has a market cap of $7.34 billion, a PE ratio of -509.71 and a beta of 0.94.

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

Insiders Place Their Bets

In other Mercury Systems 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 transaction, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,875 shares of company stock worth $2,040,874 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

Institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC raised its position in Mercury Systems by 46.9% in the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after purchasing an additional 298,298 shares during the period. Cim Investment Management Inc. boosted its position in shares of Mercury Systems by 17.2% during the first quarter. Cim Investment Management Inc. now owns 8,927 shares of the technology company’s stock worth $651,000 after buying an additional 1,307 shares during the period. Bank of America Corp DE boosted its position in shares of Mercury Systems by 19.5% during the first quarter. Bank of America Corp DE now owns 294,918 shares of the technology company’s stock worth $21,502,000 after buying an additional 48,181 shares during the period. Edgestream Partners L.P. boosted its position in shares of Mercury Systems by 87.0% during the first quarter. Edgestream Partners L.P. now owns 88,208 shares of the technology company’s stock worth $6,431,000 after buying an additional 41,038 shares during the period. Finally, Amundi acquired a new stake in shares of Mercury Systems in the first quarter valued at $586,000. 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.