Rice Hall James & Associates LLC acquired a new position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 39,775 shares of the technology company's stock, valued at approximately $4,866,000. Rice Hall James & Associates LLC owned 0.07% of Mercury Systems at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Mercury Systems during the 2nd quarter worth about $1,151,000. Global Retirement Partners LLC acquired a new stake in Mercury Systems during the 2nd quarter worth approximately $344,000. Bank of New York Mellon Corp purchased a new position in Mercury Systems in the second quarter valued at approximately $38,438,000. State of Wyoming purchased a new position in Mercury Systems in the second quarter valued at approximately $132,000. Finally, GSA Capital Partners LLP purchased a new position in Mercury Systems in the second quarter valued at approximately $410,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Mercury Systems
In other news, Director Howard L. Lance sold 9,250 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Truist Financial raised shares of Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Zacks Research lowered shares of Mercury Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a "hold" rating in a research report on Wednesday, August 12th. Finally, Piper Sandler started coverage on Mercury Systems in a report on Wednesday, August 12th. They issued an "overweight" rating and a $126.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $102.00.
Check Out Our Latest Report on Mercury Systems
Mercury Systems Stock Up 2.0%
NASDAQ MRCY opened at $113.36 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a fifty-two week low of $62.78 and a fifty-two week high of $128.45. The business has a 50 day moving average price of $108.80 and a two-hundred day moving average price of $94.82. The stock has a market cap of $6.81 billion, a PE ratio of -472.33 and a beta of 0.95.
Mercury Systems Company Profile
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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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