Allspring Global Investments Holdings LLC cut its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 573,456 shares of the technology company's stock after selling 180,239 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.96% of Mercury Systems worth $42,866,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company's stock valued at $249,957,000 after purchasing an additional 368,242 shares during the period. Invesco Ltd. lifted its position in shares of Mercury Systems by 25.1% in the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company's stock valued at $139,503,000 after acquiring an additional 383,299 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Mercury Systems by 1.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company's stock worth $112,644,000 after purchasing an additional 21,182 shares during the period. Geode Capital Management LLC grew its position in Mercury Systems by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company's stock worth $99,940,000 after purchasing an additional 47,174 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after purchasing an additional 290,989 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
MRCY has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Jefferies Financial Group reissued a "hold" rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Zacks Research upgraded Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Wall Street Zen lowered shares of Mercury Systems from a "buy" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $95.78.
Read Our Latest Research Report on MRCY
Mercury Systems Price Performance
Shares of NASDAQ:MRCY opened at $96.08 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 1 year low of $50.13 and a 1 year high of $128.45. The business has a fifty day simple moving average of $107.49 and a 200 day simple moving average of $92.80. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of -400.33 and a beta of 0.93.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts predict that Mercury Systems Inc will post 0.35 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Howard L. Lance sold 9,250 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction that occurred on 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 sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 18,250 shares of company stock worth $1,733,220 in the last three months. 1.40% of the stock is owned by insiders.
About Mercury Systems
(
Free Report)
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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