Yahoo Finance Mercury (MRCY), Lockheed Martin Tie Up for Sensor Processing
Mercury Systems MRCY recently announced that it is collaborating with Lockheed Martin LMT to develop and manufacture new sensor processing technologies at its Geneva-based facility to address the mission-critical needs of the aerospace and defense industry.
Through this $40-million worth contract, together, the companies will deliver the world’s most advanced airborne defense systems to Switzerland and other countries. This will enhance Swiss national security, expand job opportunities and ensure additional market access to the local Swiss industries in the long run.
It is worth mentioning that the latest 10-year collaboration supports Lockheed Martin’s offset agreement with the Swiss government as part of the nation’s planned procurement of 36 F-35A Lightning II aircraft related to the Air 2030 program. The move intends to strengthen the nation’s position in the global economy.
Mercury Systems Inc Price and Consensus
Mercury Systems Inc price-consensus-chart | Mercury Systems Inc Quote
The agreement will boost Mercury’s international growth by strengthening its expertise in product development. The company will design, develop and manufacture embedded processing technology for applications like radar signal processing, multi-sensor data fusion, artificial intelligence and situational awareness together with Lockheed Martin. This will not only ensure the highest performance and functionality level but also enable reaching the most critical safety certification levels of DO-254 and DO-178C.
Mercury works with a number of key defense prime contractors on a regular basis, which ensures a healthy flow of orders. Its domain expertise in analog and digital integration has helped it build a solid business relationship with defense prime contractors for a long time.
It is worth mentioning that defense prime contractors like Lockheed Martin and Raytheon comprised an aggregate of significant 34% of the company’s revenues in fiscal 2021.
Zacks Rank & Key Picks
Mercury and Lockheed Martin both currently carry a Zacks Rank #3 (Hold). While shares of MRCY have declined 13.5%, shares of LMT have increased 13.3% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Avnet AVT and Axcelis Technologies ACLS, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Avnet's fourth-quarter fiscal 2022 earnings has been revised 55 cents northward to $1.96 per share over the past 30 days. For 2022, earnings estimates have moved 20.5% north to $6.83 per share in the past 30 days.
Avnet's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 21.2%. Shares of AVT have increased 12.7% in the past year.
The Zacks Consensus Estimate for Axcelis' second-quarter 2022 earnings has been revised 3 cents upward to 99 cents per share over the past seven days. For 2022, ACLS' earnings estimates have moved 11 cents north to $4.10 per share in the past seven days.
Axcelis' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 23.5%. Shares of ACLS have surged 56.2% in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lockheed Martin Corporation (LMT) : Free Stock Analysis Report
Avnet, Inc. (AVT) : Free Stock Analysis Report
Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report
Mercury Systems Inc (MRCY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
