Mercury Systems Inc (MRCY) Reaches New 1-Year High at $45.50

Mercury Systems Inc (NASDAQ:MRCY) hit a new 52-week high during trading on Thursday . The stock traded as high as $45.50 and last traded at $45.50, with a volume of 193,961 shares. The stock had previously closed at $44.40.

MRCY has been the subject of several recent analyst reports. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a report on Thursday, April 20th. Zacks Investment Research lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 15th. BidaskClub raised shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $43.00 price target on shares of Mercury Systems in a report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.00.

The stock has a 50 day moving average of $43.54 and a 200 day moving average of $39.49. The firm has a market cap of $2.17 billion, a P/E ratio of 81.14 and a beta of 0.39.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The business had revenue of $115.60 million during the quarter, compared to analysts’ expectations of $115.11 million. During the same quarter last year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities analysts forecast that Mercury Systems Inc will post $1.24 earnings per share for the current year.

In other news, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $40.26, for a total value of $386,496.00. Following the completion of the transaction, the insider now owns 557,449 shares in the company, valued at $22,442,896.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Charles A. Speicher sold 7,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total value of $308,630.00. Following the completion of the transaction, the vice president now owns 36,983 shares of the company’s stock, valued at approximately $1,630,580.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,600 shares of company stock valued at $1,432,286. Company insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of Mercury Systems by 29.2% in the second quarter. Bank of Montreal Can now owns 2,459 shares of the technology company’s stock worth $104,000 after buying an additional 556 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Mercury Systems by 18.6% in the first quarter. Flinton Capital Management LLC now owns 2,822 shares of the technology company’s stock worth $110,000 after buying an additional 442 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Mercury Systems during the first quarter worth $116,000. Ameritas Investment Partners Inc. purchased a new position in shares of Mercury Systems during the first quarter worth $153,000. Finally, First Mercantile Trust Co. purchased a new position in shares of Mercury Systems during the first quarter worth $159,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

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About Mercury Systems

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

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