State Street Corp Purchase 159,032 Shares of Mercury Systems Inc (MRCY)

State Street Corp Purchase 159,032 Shares of Mercury Systems Inc (MRCY)

State Street Corp increased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,033,362 shares of the company’s stock after buying an additional 159,032 shares during the period. State Street Corp’s holdings in Mercury Systems were worth $31,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. increased its position in shares of Mercury Systems by 28.4% in the third quarter. Sei Investments Co. now owns 7,658 shares of the company’s stock valued at $188,000 after buying an additional 1,692 shares during the period. US Bancorp DE increased its position in shares of Mercury Systems by 4.4% in the third quarter. US Bancorp DE now owns 7,852 shares of the company’s stock valued at $193,000 after buying an additional 332 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Mercury Systems by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the company’s stock valued at $218,000 after buying an additional 150 shares during the period. Wrapmanager Inc. bought a new position in shares of Mercury Systems during the fourth quarter valued at about $248,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Mercury Systems by 1.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,005 shares of the company’s stock valued at $270,000 after buying an additional 115 shares during the period. Institutional investors own 79.14% of the company’s stock.

Shares of Mercury Systems Inc (NASDAQ:MRCY) opened at 38.61 on Monday. The company has a 50-day moving average price of $37.51 and a 200-day moving average price of $30.49. Mercury Systems Inc has a 12-month low of $18.68 and a 12-month high of $40.86. The firm has a market capitalization of $1.58 billion, a P/E ratio of 69.95 and a beta of 0.50.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Monday, January 23rd. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.19. The company earned $98 million during the quarter, compared to the consensus estimate of $93.21 million. Mercury Systems had a net margin of 6.53% and a return on equity of 6.69%. Mercury Systems’s revenue for the quarter was up 62.3% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Equities analysts predict that Mercury Systems Inc will post $0.52 EPS for the current year.

Several brokerages have recently issued reports on MRCY. Jefferies Group LLC upped their price target on shares of Mercury Systems from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, January 24th. Citigroup Inc upped their price target on shares of Mercury Systems to $48.00 and gave the stock a “buy” rating in a report on Monday, March 20th. SunTrust Banks, Inc. began coverage on shares of Mercury Systems in a report on Thursday, January 19th. They set a “buy” rating and a $36.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Mercury Systems in a report on Thursday, March 9th. They set an “overweight” rating and a $48.00 price target for the company. Finally, Robert W. Baird reiterated an “outperform” rating and set a $34.00 price target on shares of Mercury Systems in a report on Friday, January 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $35.00.

In other Mercury Systems news, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $33.65, for a total value of $323,040.00. Following the completion of the transaction, the insider now directly owns 605,449 shares of the company’s stock, valued at approximately $20,373,358.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 38,400 shares of company stock valued at $1,414,944. Insiders own 4.30% of the company’s stock.

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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