Short Interest in Mentor Graphics Corp. (MENT) Grows By 28.6%
Mentor Graphics Corp. (NASDAQ:MENT) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 8,318,213 shares, an increase of 28.6% from the August 15th total of 6,469,683 shares. Based on an average daily trading volume, of 1,703,086 shares, the days-to-cover ratio is presently 4.9 days. Currently, 7.8% of the company’s shares are short sold.
A number of research firms recently issued reports on MENT. KeyCorp restated a “hold” rating on shares of Mentor Graphics Corp. in a report on Tuesday, August 16th. Pacific Crest restated a “hold” rating on shares of Mentor Graphics Corp. in a report on Thursday, August 18th. Finally, DA Davidson downgraded shares of Mentor Graphics Corp. from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a report on Thursday, August 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $24.67.
Mentor Graphics Corp. (NASDAQ:MENT) opened at 23.92 on Wednesday. Mentor Graphics Corp. has a 12 month low of $16.10 and a 12 month high of $28.09. The firm has a market capitalization of $2.59 billion, a PE ratio of 41.60 and a beta of 0.98. The firm’s 50-day moving average is $22.98 and its 200-day moving average is $21.29.
Mentor Graphics Corp. (NASDAQ:MENT) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. Mentor Graphics Corp. had a net margin of 5.85% and a return on equity of 6.15%. The company earned $254.34 million during the quarter, compared to the consensus estimate of $245.17 million. During the same period in the prior year, the company earned $0.36 EPS. Mentor Graphics Corp.’s revenue was down 9.5% on a year-over-year basis. On average, equities research analysts expect that Mentor Graphics Corp. will post $1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 15th. Mentor Graphics Corp.’s payout ratio is 40.74%.
A number of large investors have recently modified their holdings of MENT. Algert Global LLC increased its stake in shares of Mentor Graphics Corp. by 15.1% in the first quarter. Algert Global LLC now owns 34,527 shares of the company’s stock worth $702,000 after buying an additional 4,537 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Mentor Graphics Corp. by 188.2% in the first quarter. Teachers Advisors Inc. now owns 1,308,224 shares of the company’s stock worth $26,596,000 after buying an additional 854,362 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Mentor Graphics Corp. by 19.9% in the first quarter. TIAA CREF Investment Management LLC now owns 880,146 shares of the company’s stock worth $17,893,000 after buying an additional 146,083 shares during the last quarter. Ngam Advisors L.P. acquired a new stake in shares of Mentor Graphics Corp. during the first quarter worth $522,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Mentor Graphics Corp. during the first quarter worth $1,049,000. 98.35% of the stock is owned by institutional investors.
Mentor Graphics Corp. Company Profile
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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