Insider Selling: Kevin Mcdonough Sells 7,000 Shares of Mentor Graphics Corp. Stock (MENT)
Mentor Graphics Corp. (NASDAQ:MENT) Director Kevin Mcdonough sold 7,000 shares of the stock on the open market in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $22.95, for a total transaction of $160,650.00. Following the completion of the transaction, the director now directly owns 59,654 shares in the company, valued at approximately $1,369,059. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Pacific Crest raised their price target on shares of Mentor Graphics Corp. (NASDAQ:MENT) from $24.00 to $26.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Mentor Graphics Corp. (NASDAQ:MENT) in a research note to investors on Thursday, September 12th. They now have a $26.00 price target on the stock, up previously from $25.00. Finally, 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.
Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $24.63.
Shares of Mentor Graphics Corp. (NASDAQ:MENT) traded up 0.92% during mid-day trading on Wednesday, hitting $23.03. 454,008 shares of the company’s stock traded hands. Mentor Graphics Corp. has a one year low of $13.21 and a one year high of $23.60. The stock’s 50-day moving average is $22.07 and its 200-day moving average is $19.60. The company has a market cap of $2.609 billion and a P/E ratio of 24.15.
Mentor Graphics Corp. (NASDAQ:MENT) last announced its earnings results on Thursday, August 22nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Mentor Graphics Corp. will post $1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.05 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend 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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