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Mercury (MRCY) Launches Signal Processing Board With Intel

Mercury Systems MRCY recently unveiled DRF3182 Direct radio frequency (RF) Processing Module, industry’s first signal processing board purpose-built for the aerospace and defense applications.

Embedded with commercial off-the-shelf (COTS) technology and featuring Intel Corporation’s INTC Stratix 10 AX system-on-chip (SoC) field programmable gate array (FPGA), the processing board intends to make sure that the modern electronic warfare and radar systems are able to significantly increase their processing densities. This will enable them to offer decision advantage to the United States and allied forces with an aim to transform world into a more secured place.

Utilizing Intel’s new direct RF technology, Mercury will allow direct digitization and processing of broadband RF signals through its Processing Platform. This will drive higher performances as well as lower the total system size and cost for the company. Further, this breakthrough technology will raise flexibility while improving a broad range of applications, including software-defined radio and communications. Currently, the Processing Module is available for commercial orders.

Mercury's domain expertise in analog and digital integration helped it build a solid business relationship with defense prime contractors. In November 2022, the company launched a radiation-tolerant version of its 8GB DDR4 memory component that sets a new bar for performance in data-intensive processing applications in space.

Mercury Systems Inc Price and Consensus

Mercury Systems Inc Price and Consensus
Mercury Systems Inc Price and Consensus

Mercury Systems Inc price-consensus-chart | Mercury Systems Inc Quote

In October, Mercury announced that its rapidly reprogrammable electronic attack training system, mPOD, successfully underwent final flight testing and is now available for order. The mPOD is a jammer training pod designed to train, test and evaluate military pilots for combat in electromagnetic environments. It simulates realistic adversary jamming threats to better prepare the U.S. pilots by forming unique strategies to gain an advantage over adversaries. This solution offers integrated threat presentations, which drastically reduce training costs for the U.S. Air Force and Navy.

Before that, in the same month, the company revealed that the mission computer built by Mercury Mission Systems International for the Airbus A330 Multi Role Tanker Transport aircraft received the world’s first certification for automatic air-to-air refueling boom operations.

Based on the COTS ROCK platforms from Mercury that draw from a range of safety-certifiable modular COTS building blocks, the purpose-built computer addresses the need for high-end video processing and the safety-criticality of the application. The system handles video streams with very low latency across multiple processors and meets stringent DO-178/ DO-254 software reliability processes.

Mercury's total bookings at the fiscal 2023 first quarter-end were $266.9 million, reflecting a book-to-bill ratio of 1.17. The company ended the quarter with a backlog of $1.08 billion, up $193.1 million from a year ago. From this backlog, products worth $694.6 million are expected to be shipped within the next 12 months.

Zacks Rank & Key Picks

Mercury currently carries a Zacks Rank #3 (Hold) while Intel has a Zacks Rank #4 (Sell). Shares of MRCY and INTC have fallen 17.1% and 41.8%, respectively, in the past year.

Some better-ranked stocks from the broader Computer and Technology sector are Axcelis Technologies ACLS and Bandwidth BAND. While Axcelis sports a Zacks Rank #1 (Strong Buy), Bandwidth carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Axcelis’ fourth-quarter 2022 earnings has been revised 41 cents northward to $1.46 per share over the past seven days. For 2022, earnings estimates have improved by 8.5% to $5.21 per share over the past seven days.

ACLS’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 23.2%. Shares of the company have risen 73.7% in the past year.

The Zacks Consensus Estimate for Bandwidth’s fourth-quarter 2022 earnings has been revised by a penny to 4 cents per share over the past 90 days. For 2022, earnings estimates have moved north by 25 cents to 37 cents per share in the past 90 days.

BAND's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 301.8%. Shares of the company have declined 62.2% in the past year.

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