Fisher Asset Management LLC Sells 14,896 Shares of Mercury Systems Inc $MRCY

Key Points

• Fisher Asset Management trimmed its Mercury Systems stake by 1.7% in the fourth quarter, selling 14,896 shares and leaving it with 860,383 shares valued at about $62.8 million.
• Insider selling has been active, including director Orlando D. Carvalho and EVP David E. Farnsworth, with insiders selling 469,514 shares worth roughly $43.0 million over the last 90 days.
• Mercury Systems beat earnings expectations in its latest quarter, reporting EPS of $0.27 versus $0.06 expected and revenue of $235.76 million, while analysts currently rate the stock a consensus Moderate Buy.

Fisher Asset Management LLC reduced its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 860,383 shares of the technology company's stock after selling 14,896 shares during the period. Fisher Asset Management LLC owned approximately 1.43% of Mercury Systems worth $62,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MRCY. Invesco Ltd. boosted its holdings in shares of Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company's stock worth $118,224,000 after acquiring an additional 943,736 shares during the period. First Trust Advisors LP boosted its holdings in shares of Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company's stock worth $118,640,000 after acquiring an additional 751,813 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after acquiring an additional 290,989 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Mercury Systems by 118,133.6% in the third quarter. Bessemer Group Inc. now owns 274,302 shares of the technology company's stock worth $21,232,000 after acquiring an additional 274,070 shares during the period. Finally, State Street Corp boosted its holdings in shares of Mercury Systems by 8.7% in the second quarter. State Street Corp now owns 3,246,573 shares of the technology company's stock worth $174,860,000 after acquiring an additional 259,388 shares during the period. 95.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the sale, the executive vice president owned 157,701 shares in the company, valued at $13,384,083.87. The trade was a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 469,514 shares of company stock valued at $42,960,291. 1.40% of the stock is currently owned by company insiders.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $98.55 on Tuesday. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of -410.63 and a beta of 0.83. Mercury Systems Inc has a 52-week low of $45.88 and a 52-week high of $103.84. The stock has a fifty day moving average of $82.77 and a 200 day moving average of $82.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. On average, research analysts expect that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MRCY. Truist Financial raised Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. Canaccord Genuity Group lifted their price objective on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Jefferies Financial Group reissued a "hold" rating and set a $95.00 price objective on shares of Mercury Systems in a research note on Sunday, May 10th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.89.

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.

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