Mentor Graphics Corp. (MENT) Raised to Buy at DA Davidson
Mentor Graphics Corp. (NASDAQ:MENT) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $32.00 target price on the stock, up from their prior target price of $24.00. DA Davidson’s price target suggests a potential upside of 20.89% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities analysts have also recently issued reports about the company. Pacific Crest reissued a “hold” rating on shares of Mentor Graphics Corp. in a report on Thursday, August 18th. KeyCorp reissued a “hold” rating on shares of Mentor Graphics Corp. in a report on Tuesday, August 16th. Finally, Zacks Investment Research cut Mentor Graphics Corp. from a “hold” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.33.
Mentor Graphics Corp. (NASDAQ:MENT) traded up 2.30% during trading on Monday, reaching $27.08. The company had a trading volume of 1,197,342 shares. The firm’s 50 day moving average is $24.40 and its 200-day moving average is $21.82. Mentor Graphics Corp. has a 12 month low of $16.10 and a 12 month high of $28.09. The company has a market capitalization of $2.93 billion, a P/E ratio of 47.10 and a beta of 0.86.
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Mentor Graphics Corp. (NASDAQ:MENT) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.06. Mentor Graphics Corp. had a return on equity of 6.15% and a net margin of 5.85%. The company earned $254.34 million during the quarter, compared to analysts’ expectations of $245.17 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, equities analysts expect that Mentor Graphics Corp. will post $1.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, September 15th. Mentor Graphics Corp.’s dividend payout ratio is currently 40.74%.
Several large investors have recently made changes to their positions in MENT. Dimensional Fund Advisors LP increased its stake in Mentor Graphics Corp. by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,813,779 shares of the company’s stock worth $81,079,000 after buying an additional 16,493 shares during the period. State Street Corp increased its stake in Mentor Graphics Corp. by 5.0% in the second quarter. State Street Corp now owns 3,271,521 shares of the company’s stock worth $69,555,000 after buying an additional 155,823 shares during the period. LSV Asset Management increased its stake in Mentor Graphics Corp. by 54.7% in the second quarter. LSV Asset Management now owns 3,207,764 shares of the company’s stock worth $68,197,000 after buying an additional 1,134,128 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Mentor Graphics Corp. by 7.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,007,128 shares of the company’s stock worth $63,932,000 after buying an additional 215,509 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Mentor Graphics Corp. by 100.8% in the second quarter. Bank of New York Mellon Corp now owns 2,727,073 shares of the company’s stock worth $57,979,000 after buying an additional 1,369,135 shares during the period. 97.77% of the stock is owned by institutional investors and hedge funds.
About Mentor Graphics Corp.
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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