Shares of Mentor Graphics Corp. (NASDAQ:MENT) saw strong trading volume on Wednesday . 1,278,219 shares were traded during mid-day trading, an increase of 87% from the previous session’s volume of 682,189 shares.The stock last traded at $21.80 and had previously closed at $21.69.

Several research analysts recently issued reports on the stock. Bank of America Corp. reiterated a “hold” rating on shares of Mentor Graphics Corp. in a research note on Sunday, May 22nd. Zacks Investment Research lowered shares of Mentor Graphics Corp. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 5th. Finally, KeyCorp reiterated a “hold” rating on shares of Mentor Graphics Corp. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.40.

The stock has a market capitalization of $2.33 billion and a price-to-earnings ratio of 27.59. The firm’s 50 day moving average price is $21.47 and its 200-day moving average price is $20.35.

Mentor Graphics Corp. (NASDAQ:MENT) last released its quarterly earnings results on Thursday, May 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.13. During the same quarter last year, the business posted $0.28 earnings per share. The firm had revenue of $227.60 million for the quarter. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. Equities research analysts predict that Mentor Graphics Corp. will post $1.68 earnings per share for the current year.

In other Mentor Graphics Corp. news, Director Keith Barnes sold 2,982 shares of Mentor Graphics Corp. stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $21.79, for a total transaction of $64,977.78. Following the transaction, the director now owns 8,560 shares of the company’s stock, valued at $186,522.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Gregory K. Hinckley sold 32,396 shares of Mentor Graphics Corp. stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $21.37, for a total value of $692,302.52. Following the transaction, the president now directly owns 527,396 shares in the company, valued at approximately $11,270,452.52. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Dean Investment Associates LLC purchased a new position in Mentor Graphics Corp. during the fourth quarter valued at approximately $1,942,000. State of New Jersey Common Pension Fund D raised its position in Mentor Graphics Corp. by 19.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 310,000 shares of the company’s stock valued at $5,710,000 after buying an additional 50,000 shares during the period. New York State Common Retirement Fund raised its position in Mentor Graphics Corp. by 4.6% in the fourth quarter. New York State Common Retirement Fund now owns 112,633 shares of the company’s stock valued at $2,075,000 after buying an additional 4,966 shares during the period. Finally, Comerica Bank raised its position in Mentor Graphics Corp. by 0.9% in the fourth quarter. Comerica Bank now owns 69,258 shares of the company’s stock valued at $1,190,000 after buying an additional 601 shares during the period.

Mentor Graphics Corporation is a supplier of electronic design automation (EDA) tools, which include computer software and emulation hardware systems used to automate the design, analysis and testing of complex electro-mechanical systems, electronic hardware and embedded systems software in electronic systems and components.

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