Fisher Asset Management LLC Lowers Stock Holdings in Mercury Systems Inc $MRCY

Fisher Asset Management LLC decreased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 860,383 shares of the technology company’s stock after selling 14,896 shares during the period. Fisher Asset Management LLC’s holdings in Mercury Systems were worth $62,817,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MRCY. Swedbank AB increased its holdings in shares of Mercury Systems by 722.1% in the fourth quarter. Swedbank AB now owns 38,349 shares of the technology company’s stock worth $2,800,000 after buying an additional 33,684 shares during the period. Legato Capital Management LLC increased its holdings in shares of Mercury Systems by 71.9% in the fourth quarter. Legato Capital Management LLC now owns 41,396 shares of the technology company’s stock worth $3,022,000 after buying an additional 17,311 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Mercury Systems in the fourth quarter worth about $203,000. Leonteq Securities AG purchased a new position in shares of Mercury Systems in the fourth quarter worth about $35,000. Finally, ProShare Advisors LLC increased its holdings in shares of Mercury Systems by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 10,134 shares of the technology company’s stock worth $740,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Activity at Mercury Systems

In related news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the transaction, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jana Partners Management, Lp sold 182,510 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $94.05, for a total value of $17,165,065.50. Following the transaction, the director owned 4,384,165 shares in the company, valued at approximately $412,330,718.25. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 469,514 shares of company stock worth $42,960,291 over the last 90 days. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on MRCY. The Goldman Sachs Group lifted their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 price objective on shares of Mercury Systems in a report on Sunday, May 10th. Finally, Canaccord Genuity Group lifted their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems currently has an average rating of “Moderate Buy” and an average target price of $89.89.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $98.55 on Tuesday. Mercury Systems Inc has a 1 year low of $45.88 and a 1 year high of $103.84. The company has a market cap of $5.92 billion, a PE ratio of -410.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The stock’s 50-day moving average is $82.77 and its 200 day moving average is $82.04.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (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 company 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 business earned $0.06 EPS. Mercury Systems’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current year.

Mercury Systems Company Profile

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.