William Ballhaus Sells 111,076 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 111,076 shares of Mercury Systems stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total value of $9,676,941.12. Following the completion of the transaction, the chief executive officer owned 342,436 shares in the company, valued at approximately $29,833,024.32. This represents a 24.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mercury Systems Trading Up 0.8%

MRCY stock traded up $0.71 during trading on Thursday, hitting $90.47. 436,148 shares of the company traded hands, compared to its average volume of 680,573. The firm has a market capitalization of $5.44 billion, a PE ratio of -180.94 and a beta of 0.95. Mercury Systems Inc has a 1 year low of $65.04 and a 1 year high of $128.45. The company has a 50-day moving average of $106.00 and a 200-day moving average of $94.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. During the same period last year, the firm earned $0.47 earnings per share. Mercury Systems’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that Mercury Systems Inc will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Mercury Systems

Several large investors have recently added to or reduced their stakes in MRCY. BlackRock Inc. bought a new position in Mercury Systems in the 2nd quarter worth $1,146,342,000. California State Teachers Retirement System boosted its stake in shares of Mercury Systems by 11,902.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company’s stock valued at $933,404,000 after purchasing an additional 7,566,641 shares in the last quarter. State Street Corp boosted its stake in shares of Mercury Systems by 12.1% during 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 in the last quarter. Invesco Ltd. increased its position in shares of Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock valued at $139,503,000 after buying an additional 383,299 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Mercury Systems by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after buying an additional 21,182 shares during the period. Institutional investors own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

MRCY has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a report on Wednesday, August 19th. Zacks Research lowered shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Truist Financial upped their price objective on shares of Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Robert W. Baird increased their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.10.

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.