California State Teachers Retirement System Sells 1,196 Shares of Mercury Systems Inc $MRCY

California State Teachers Retirement System cut its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,374 shares of the technology company's stock after selling 1,196 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Mercury Systems worth $7,630,211 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Mercury Systems in the 2nd quarter worth $1,146,342,000. Bamco Inc. NY acquired a new position in Mercury Systems in the second quarter valued at $74,244,000. American Capital Management Inc. acquired a new stake in shares of Mercury Systems in the 2nd quarter worth approximately $59,460,000. William Blair Investment Management LLC acquired a new stake in shares of Mercury Systems in the second quarter worth approximately $46,453,000. Finally, Bank of New York Mellon Corp purchased a new stake in Mercury Systems during the 2nd quarter worth approximately $38,438,000. Institutional investors own 95.99% of the company's stock.

Wall Street Analysts Forecast Growth

MRCY has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Mercury Systems from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, August 24th. Piper Sandler reaffirmed an "overweight" rating and set a $131.00 target price (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Guggenheim began coverage on shares of Mercury Systems in a report on Monday. They issued a "buy" rating and a $115.00 price target on the stock. Finally, Canaccord Genuity Group boosted their price target on Mercury Systems from $106.00 to $128.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.55.

Mercury Systems Price Performance

Shares of NASDAQ MRCY traded up $6.51 during trading on Tuesday, reaching $87.54. The company had a trading volume of 586,087 shares, compared to its average volume of 677,977. The stock has a market capitalization of $5.26 billion, a PE ratio of -174.59 and a beta of 0.98. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a twelve month low of $65.04 and a twelve month high of $128.45. The stock has a 50-day moving average price of $97.72 and a two-hundred day moving average price of $94.86.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The business had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. During the same quarter last year, the firm posted $0.47 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Mercury Systems Inc will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David E. Farnsworth sold 8,155 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $818,028.05. Following the transaction, the executive vice president owned 124,579 shares of the company's stock, valued at approximately $12,496,519.49. This trade represents a 6.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 111,076 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total value of $9,676,941.12. Following the sale, the chief executive officer owned 342,436 shares of the company's stock, valued at approximately $29,833,024.32. This trade represents a 24.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 450,186 shares of company stock worth $41,770,650. Company insiders own 1.40% of the company's stock.

Mercury Systems Company Profile

Mercury Systems, Inc is a technology company that develops and manufactures secure, high-performance computing and sensor-processing solutions for the aerospace and defense industries. Its products are designed for use in mission-critical applications where ruggedness, rapid data processing, cybersecurity and long operational life are essential.

The company's offerings include embedded computing systems, digital signal processing technologies, radio-frequency and microwave components, avionics systems, sensor-processing solutions, electronic warfare technology and secure communications products.

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