Needham Investment Management LLC Trims Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Needham Investment Management LLC reduced its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 60.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the technology company's stock after selling 52,500 shares during the period. Needham Investment Management LLC owned approximately 0.06% of Mercury Systems worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Holocene Advisors LP purchased a new position in Mercury Systems during the third quarter worth about $1,013,000. Verition Fund Management LLC purchased a new position in Mercury Systems during the third quarter worth about $424,000. PEAK6 Investments LLC purchased a new position in Mercury Systems during the third quarter worth about $686,000. MetLife Investment Management LLC raised its stake in Mercury Systems by 129.1% during the third quarter. MetLife Investment Management LLC now owns 31,667 shares of the technology company's stock worth $1,172,000 after purchasing an additional 17,843 shares during the period. Finally, Glenmede Trust Co. NA purchased a new position in Mercury Systems during the third quarter worth about $256,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Mercury Systems from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Alembic Global Advisors raised shares of Mercury Systems from a "neutral" rating to an "overweight" rating and set a $48.00 price target on the stock in a research note on Monday, August 19th. Royal Bank of Canada boosted their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 14th. StockNews.com downgraded shares of Mercury Systems from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird boosted their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the company a "neutral" rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Mercury Systems presently has a consensus rating of "Hold" and an average target price of $36.29.

Insiders Place Their Bets

In related news, COO Charles Roger Iv Wells sold 1,527 shares of Mercury Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $38.80, for a total transaction of $59,247.60. Following the sale, the chief operating officer now directly owns 113,488 shares in the company, valued at $4,403,334.40. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Mercury Systems Stock Up 2.8 %

Shares of MRCY stock traded up $1.09 during trading on Wednesday, reaching $40.23. The company's stock had a trading volume of 1,704,051 shares, compared to its average volume of 577,527. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.10 and a quick ratio of 2.59. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -19.09 and a beta of 0.78. The stock's 50-day moving average price is $37.56 and its 200 day moving average price is $34.79. Mercury Systems, Inc. has a 1-year low of $25.31 and a 1-year high of $44.63.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.