LPL Financial LLC Purchases 76,549 Shares of Mercury Systems Inc (NASDAQ:MRCY)

Key Points

• LPL Financial LLC increased its holdings in Mercury Systems Inc by 145.1% during the first quarter, acquiring an additional 76,549 shares for a total of 129,295 shares valued at $5,486,000.
• The company's stock has shown a wide price range over the past year, with a low of $32.32 and a high of $68.33, currently trading around $68.02.
• Raymond James Financial upgraded Mercury Systems from an "outperform" to a "strong-buy" rating and raised its target price from $55.00 to $80.00.

LPL Financial LLC boosted its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 145.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,295 shares of the technology company's stock after acquiring an additional 76,549 shares during the period. LPL Financial LLC owned 0.22% of Mercury Systems worth $5,486,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in Mercury Systems in the fourth quarter valued at $33,000. GAMMA Investing LLC boosted its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after acquiring an additional 395 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after acquiring an additional 451 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Mercury Systems by 762.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in Mercury Systems in the fourth quarter valued at $212,000. Institutional investors own 95.99% of the company's stock.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the transaction, the executive vice president owned 35,174 shares of the company's stock, valued at approximately $1,881,105.52. The trade was a 4.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

Mercury Systems Stock Down 2.3%

Shares of MRCY traded down $1.56 during trading hours on Thursday, hitting $66.83. The company had a trading volume of 909,085 shares, compared to its average volume of 788,688. The firm has a fifty day moving average price of $52.98 and a 200-day moving average price of $48.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.25 and a current ratio of 3.52. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -101.26, a P/E/G ratio of 3.21 and a beta of 0.72. Mercury Systems Inc has a 52-week low of $32.32 and a 52-week high of $69.95.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.26. The firm had revenue of $273.11 million during the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%. Mercury Systems's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, equities research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on MRCY. Royal Bank Of Canada boosted their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday. Truist Financial boosted their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $55.00 to $80.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.13.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.