Mentor Graphics Corp. (MENT) Sees Unusually-High Trading Volume
Mentor Graphics Corp. (NASDAQ:MENT) saw unusually-high trading volume on Tuesday . Approximately 2,165,978 shares changed hands during mid-day 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.
MENT has been the subject of several research reports. DA Davidson cut shares of Mentor Graphics Corp. from a “buy” rating to a “neutral” rating in a research report on Friday, August 19th. Pacific Crest reissued a “hold” rating on shares of Mentor Graphics Corp. in a research report on Thursday, August 18th. KeyCorp reissued a “hold” rating on shares of Mentor Graphics Corp. in a research report on Tuesday, August 16th. Zacks Investment Research cut shares of Mentor Graphics Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 5th. Finally, Bank of America Corp. reissued a “hold” rating on shares of Mentor Graphics Corp. in a research report on Sunday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.67.
The firm has a market capitalization of $2.58 billion and a PE ratio of 41.810. The firm has a 50 day moving average of $21.79 and a 200 day moving average of $20.57.
Mentor Graphics Corp. (NASDAQ:MENT) last announced its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $254.34 million for the quarter, compared to analyst estimates of $245.17 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. Mentor Graphics Corp.’s revenue was down 9.5% on a year-over-year basis. Equities analysts expect that Mentor Graphics Corp. will post $1.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, September 15th.
In related news, 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 completion of the transaction, the president now owns 527,396 shares in the company, valued at $11,270,452.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Barnes sold 2,982 shares of Mentor Graphics Corp. stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $21.79, for a total transaction of $64,977.78. Following the completion of the transaction, the director now owns 8,560 shares of the company’s stock, valued at approximately $186,522.40. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Mentor Graphics Corp. stock. State of New Jersey Common Pension Fund D raised its position in shares of Mentor Graphics Corp. (NASDAQ:MENT) by 19.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 about 0.26% of Mentor Graphics Corp. worth $5,710,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.