Insider Selling: Gregory Hinckley Unloads 8,281 Shares of Mentor Graphics Corp. Stock (MENT)
Mentor Graphics Corp. (NASDAQ:MENT) President Gregory Hinckley sold 8,281 shares of Mentor Graphics Corp. stock on the open market in a transaction dated Thursday, September 12th. The stock was sold at an average price of $22.86, for a total transaction of $189,303.66. Following the transaction, the president now directly owns 333,805 shares of the company’s stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at DA Davidson reiterated a “buy” rating on shares of Mentor Graphics Corp. (NASDAQ:MENT) in a research note to investors on Thursday. They now have a $26.00 price target on the stock, up previously from $25.00. Separately, analysts at Zacks upgraded shares of Mentor Graphics Corp. (NASDAQ:MENT) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 2nd. They now have a $23.40 price target on the stock. Finally, analysts at Thomson Reuters/Verus downgraded shares of Mentor Graphics Corp. (NASDAQ:MENT) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 2nd.
Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Mentor Graphics Corp. currently has an average rating of “Buy” and a consensus target price of $24.40.
Shares of Mentor Graphics Corp. (NASDAQ:MENT) traded down 0.09% during mid-day trading on Friday, hitting $23.00. 676,467 shares of the company’s stock traded hands. Mentor Graphics Corp. has a 52 week low of $13.21 and a 52 week high of $23.60. The stock’s 50-day moving average is $21.59 and its 200-day moving average is $19.25. The company has a market cap of $2.599 billion and a price-to-earnings ratio of 24.36.
Mentor Graphics Corp. (NASDAQ:MENT) last announced its earnings results on Thursday, August 22nd. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.09. The company had revenue of $253.22 million for the quarter, compared to the consensus estimate of $244.90 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.05 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, September 6th.
Mentor Graphics Corporation is a supplier of electronic design automation (NASDAQ:MENT) tools – computer software and emulation hardware systems used to automate the design, analysis, and testing of electro-mechanical systems, electronic hardware, and embedded systems software in electronic systems and components.
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