Zions Bancorporation National Association UT Sells 7,590 Shares of Mercury Systems Inc $MRCY

Zions Bancorporation National Association UT trimmed its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 13.0% in the third quarter, Holdings Channel.com reports. The fund owned 50,696 shares of the technology company’s stock after selling 7,590 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Mercury Systems were worth $3,924,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MRCY. Loomis Sayles & Co. L P lifted its position in shares of Mercury Systems by 321.7% in the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after purchasing an additional 757,216 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Mercury Systems by 287.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock valued at $56,328,000 after acquiring an additional 514,756 shares during the last quarter. Emerald Advisers LLC acquired a new stake in Mercury Systems during the 2nd quarter worth about $24,599,000. Conestoga Capital Advisors LLC raised its position in shares of Mercury Systems by 13.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock worth $137,824,000 after acquiring an additional 300,749 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $82.36 on Monday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -155.40, a PEG ratio of 6.82 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The firm’s 50-day simple moving average is $84.71 and its 200 day simple moving average is $75.93.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same quarter last year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MRCY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “hold” rating and set a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. Finally, Truist Financial increased their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.89.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp sold 400,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00. Following the completion of the sale, the director owned 4,566,675 shares in the company, valued at $369,900,675. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

About Mercury Systems

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.