Mentor Graphics Corp. (MENT) Sees Large Volume Increase
Shares of Mentor Graphics Corp. (NASDAQ:MENT) saw strong trading volume on Tuesday . 2,165,978 shares traded hands during trading, an increase of 115% from the previous session’s volume of 1,005,140 shares.The stock last traded at $23.58 and had previously closed at $23.42.
Several equities research analysts have recently weighed in on the company. DA Davidson cut Mentor Graphics Corp. from a “buy” rating to a “neutral” rating in a research report on Friday. Pacific Crest reiterated a “hold” rating on shares of Mentor Graphics Corp. in a research report on Thursday, August 18th. KeyCorp reiterated a “hold” rating on shares of Mentor Graphics Corp. in a research report on Tuesday, August 16th. Bank of America Corp. reiterated a “hold” rating on shares of Mentor Graphics Corp. in a research report on Sunday, May 22nd. Finally, Zacks Investment Research cut Mentor Graphics Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.67.
The company has a market cap of $2.57 billion and a P/E ratio of 41.60. The firm has a 50-day moving average of $21.70 and a 200-day moving average of $20.55.
Mentor Graphics Corp. (NASDAQ:MENT) last issued its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $254.34 million for the quarter, compared to the consensus estimate of $245.17 million. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, equities analysts anticipate that Mentor Graphics Corp. will post $1.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 15th.
In related 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 sale, the director now owns 8,560 shares of the company’s stock, valued at approximately $186,522.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Gregory K. Hinckley sold 32,396 shares of Mentor Graphics Corp. stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $21.37, for a total value of $692,302.52. Following the sale, 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.
An institutional investor recently raised its position in Mentor Graphics Corp. stock. State of New Jersey Common Pension Fund D raised its stake in shares of Mentor Graphics Corp. (NASDAQ:MENT) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,000 shares of the company’s stock after buying an additional 50,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.26% of Mentor Graphics Corp. worth $5,710,000 at the end of the most recent quarter.
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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