Insider Selling: Walden Rhines Unloads 445,530 Shares of Mentor Graphics Corp. Stock (MENT)
Mentor Graphics Corp. (NASDAQ:MENT) CEO Walden Rhines unloaded 445,530 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $23.42, for a total value of $10,434,312.60. Following the completion of the transaction, the chief executive officer now directly owns 374,612 shares of the company’s stock, valued at approximately $8,773,413. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of Mentor Graphics Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 23rd. They now have a $25.70 price target on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Mentor Graphics Corp. currently has a consensus rating of “Buy” and an average target price of $24.96.
Mentor Graphics Corp. (NASDAQ:MENT) traded down 0.13% on Friday, hitting $23.38. 592,212 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 $24.31. The stock’s 50-day moving average is $23.11 and its 200-day moving average is $22.01. The company has a market cap of $2.680 billion and a price-to-earnings ratio of 26.75.
Mentor Graphics Corp. (NASDAQ:MENT) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.13. The company had revenue of $275.60 million for the quarter, compared to the consensus estimate of $260.27 million. During the same quarter last year, the company posted $0.32 earnings per share. Mentor Graphics Corp.’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that Mentor Graphics Corp. will post $1.59 earnings per share for the current fiscal year.
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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