California State Teachers Retirement System Purchases 12,346 Shares of Mercury Systems Inc $MRCY

Key Points

• California State Teachers Retirement System increased its Mercury Systems stake by 24.1% in the first quarter, adding 12,346 shares to own 63,570 shares worth approximately $4.64 million. Institutional investors collectively own 95.99% of the company.
• Mercury Systems reported quarterly revenue of $235.76 million and adjusted earnings of $0.27 per share, beating analyst expectations of $208.56 million and $0.06, respectively. Revenue increased 11.5% year over year.
• Analyst sentiment remains mixed but leans positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $95.78. Meanwhile, company insiders sold 18,250 shares worth about $1.73 million during the quarter.

California State Teachers Retirement System grew its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,570 shares of the technology company's stock after acquiring an additional 12,346 shares during the period. California State Teachers Retirement System owned 0.11% of Mercury Systems worth $4,635,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Mercury Systems by 15.4% in the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company's stock worth $59,000 after acquiring an additional 107 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Mercury Systems by 1.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company's stock valued at $563,000 after purchasing an additional 134 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Mercury Systems by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company's stock valued at $880,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Mercury Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 15,211 shares of the technology company's stock valued at $1,111,000 after purchasing an additional 195 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in Mercury Systems by 3.0% during the third quarter. Focus Partners Wealth now owns 6,929 shares of the technology company's stock worth $536,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president directly owned 32,238 shares in the company, valued at $2,980,725.48. The trade was a 5.84% 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 Orlando D. Carvalho sold 7,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director directly owned 52,448 shares in the company, valued at $4,686,753.28. This represents a 11.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,250 shares of company stock valued at $1,733,220. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MRCY. JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a "hold" rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Finally, Zacks Research downgraded Mercury Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $95.78.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $108.64 on Friday. Mercury Systems Inc has a 52-week low of $52.63 and a 52-week high of $128.45. The company has a 50-day simple moving average of $109.05 and a 200 day simple moving average of $94.40. 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 company has a market capitalization of $6.52 billion, a PE ratio of -452.67 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $235.76 million for the quarter, compared to analysts' expectations of $208.56 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company's quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Mercury Systems Inc will post 0.33 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source