Mentor Graphics Corp. VP Sells $3,654,341 in Stock (MENT)
Mentor Graphics Corp. (NASDAQ:MENT) VP Brian Derrick sold 161,625 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $22.61, for a total value of $3,654,341.25. Following the transaction, the vice president now directly owns 58,155 shares of the company’s stock, valued at approximately $1,314,885. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Mentor Graphics Corp. (NASDAQ:MENT) traded down 1.68% on Tuesday, hitting $22.19. 449,616 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 $23.77. The stock has a 50-day moving average of $22.58 and a 200-day moving average of $19.96. The company has a market cap of $2.514 billion and a P/E ratio of 23.88.
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. Analysts expect that Mentor Graphics Corp. will post $1.59 EPS for the current fiscal year.
A number of analysts have recently weighed in on MENT shares. Analysts at Pacific Crest raised their price target on shares of Mentor Graphics Corp. from $24.00 to $26.00 in a research note to investors on Monday, September 23rd. They now have an “outperform” rating on the stock. Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Mentor Graphics Corp. 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. 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $24.63.
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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