Filing Worth Mentioning: Paul Singer’s Elliott Associates Just Opened Huge Mentor Graphics Corp Position

Filing Worth Mentioning: Paul Singer's Elliott Associates Just Opened Huge Mentor Graphics Corp Position

The New Paul Singer’s Elliott Associates Holding in Mentor Graphics Corp

Elliott Associates filed with the SEC SC 13D form for Mentor Graphics Corp. The form can be accessed here: 000101359416001233. As reported in Paul Singer’s Elliott Associates’s form, the filler as of late owns 3.0% or 3,281,000 shares of the Information Technology–company.

Mentor Graphics Corp stake is a new one for the for the hedge fund and it was filed because of activity on September 19, 2016. We feel this shows Paul Singer’s Elliott Associates’s positive view for the stock.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Paul Singer’s Elliott Associates’s US equities portfolio is in this sector.

Reasons Why Paul Singer’s Elliott Associates Bought – Mentor Graphics Corp Stock

Purpose of Transaction

The Reporting Persons believe the securities of the Issuer are deeply undervalued. The Reporting Persons believe there are numerous operational opportunities, including enhancing operational efficiency and revenue quality, as well as strategic opportunities for the Issuer that would improve shareholder value. The Reporting Persons have initiated a dialogue with the Issuer’s Management and Board of Directors (the “Board”) regarding those opportunities.

Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of securities of the Issuer at prices that would make the purchase or sale of such securities desirable, the Reporting Persons may endeavor (i) to increase or decrease their respective positions in the Issuer through, among other things, the purchase or sale of securities of the Issuer on the open market or in private transactions, including through a trading plan created under Rule 10b5-1(c) or otherwise, on such terms and at such times as the Reporting Persons may deem advisable and/or (ii) to enter into transactions that increase or hedge their economic exposure to the Common Stock without affecting their beneficial ownership of shares of Common Stock.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons have communicated with the Issuer’s management and Board about a broad range of operational and strategic matters. The Reporting Persons may take positions and/or make proposals with respect to, or with respect to potential changes in, the operations, management, strategy, plans, the articles of incorporation and bylaws, Board composition, ownership, capital or corporate structure, dividend policy, or potential acquisitions or sales involving the Issuer or certain of the Issuer’s businesses or assets as a means of enhancing shareholder value, or may change their intention with respect to any and all matters referred to in this Item 4. As part of their ongoing communications, the Reporting Persons have encouraged the Issuer to undertake a strategic review process, which may include a transaction in which the Reporting Persons may participate. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time in the future express their views to and/or meet with management, the Board, other shareholders or third parties, including, potential acquirers, service providers and financing sources, and/or formulate plans or proposals regarding the Issuer, its assets or its securities. Such proposals or positions may include one or more plans that relate to or would result in any of the actions set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D.

Mentor Graphics Corp Institutional Sentiment

Latest Security and Exchange filings show 243 investors own Mentor Graphics Corp. The institutional ownership in Q3 2015 is very high, at 100.47% of the outstanding shares. This is decreased by 5052975 the total institutional shares. 108668559 were the shares owned by these institutional investors. In total 30 funds opened new Mentor Graphics Corp stakes, 93 increased stakes. There were 22 that closed positions and 90 reduced them.

3 managers had the stock in their top Ten. Notable investors are: Kerrisdale Advisers Llc, Private Capital Management Llc, Tsp Capital Management Group Llc, Hawk Ridge Capital Management Lp..

Ironwood Investment Management Llc is an institutional investor bullish on Mentor Graphics Corp, owning 180135 shares as of Q3 2015 for 1.63% of its portfolio. Roger Ibbotson Zebra Capital Management Llc owns 54883 shares or 0.83% of its portfolio. OH Victory Capital Management Inc have 0.64% of their stock portfolio for 6344160 shares. Further, Herald Investment Management Ltd reported stake worth 2.73% of its US stock portfolio. The NJ Tsp Capital Management Group Llc owns 374807 shares. Mentor Graphics Corp is 5.18% of the manager’s US portfolio.

Business Profile

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. The Company markets its products and services across the world, mainly to companies in the communications, computer, consumer electronics, semiconductor, networking, military and aerospace, multimedia and transportation industries. The electronic components and systems that the Company’s customers create with its products include integrated circuits (ICs), printed circuit boards (PCBs), field programmable gate arrays (FPGAs), embedded software solutions and wire harness systems. It offers over five categories of similar products and services: Scalable Verification, IC Design to Silicon, Integrated System Design, New and Emerging Products, and Services and Other.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment decreased to 1.14 in Q2 2016. Its down 0.39, from 1.53 in 2016Q1. The ratio fall, as 33 funds sold all Mentor Graphics Corp shares owned while 73 reduced positions. 29 funds bought stakes while 92 increased positions. They now own 99.59 million shares or 1.63% more from 97.99 million shares in 2016Q1.

Moreover, Penbrook Mgmt Ltd Llc has 1.06% invested in Mentor Graphics Corp (NASDAQ:MENT) for 45,350 shares. Wells Fargo & Mn last reported 476,022 shares in the company. Moreover, Blackrock has 0% invested in Mentor Graphics Corp (NASDAQ:MENT) for 102,475 shares. Bessemer Grp accumulated 240 shares or 0% of the stock. Texas Permanent School Fund has 76,892 shares for 0.02% of their US portfolio. Aqr Cap Management Ltd Liability reported 2.01M shares or 0.08% of all its holdings. Macquarie Group Ltd has 0% invested in the company for 50,500 shares. Nuveen Asset Mgmt Ltd Liability, a Illinois-based fund reported 196,546 shares. The Iowa-based Principal Financial Group has invested 0.01% in Mentor Graphics Corp (NASDAQ:MENT). Bb&T Corp last reported 34,508 shares in the company. Stevens Cap Mngmt L P holds 0.11% or 124,840 shares in its portfolio. Weaver C Barksdale Assoc holds 243 shares or 0.01% of its portfolio. Fisher Asset Mgmt Lc owns 1.81M shares or 0.07% of their US portfolio. Herndon Mngmt Ltd accumulated 298 shares or 0% of the stock. The Hawaii-based C M Bidwell & Associate Ltd has invested 0.05% in Mentor Graphics Corp (NASDAQ:MENT).

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 1 sale for $692,303 net activity. $692,303 worth of Mentor Graphics Corp (NASDAQ:MENT) was sold by HINCKLEY GREGORY K.

About 322,177 shares traded hands. Mentor Graphics Corp (NASDAQ:MENT) has risen 38.43% since February 29, 2016 and is uptrending. It has outperformed by 26.21% the S&P500.

Mentor Graphics Corporation is a supplier of electronic design automation 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. The company has a market cap of $3.03 billion. The Firm markets its services and products across the world, mainly to companies in the communications, computer, consumer electronics, semiconductor, networking, military and aerospace, multimedia and transportation industries. It has a 48.31 P/E ratio. The electronic components and systems that the Company’s clients create with its products include integrated circuits (ICs), printed circuit boards (PCBs), field programmable gate arrays (FPGAs), embedded software solutions and wire harness systems.

Mentor Graphics Corp (NASDAQ:MENT) Ratings Coverage

Out of 6 analysts covering Mentor Graphics (NASDAQ:MENT), 1 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 17% are positive. $30 is the highest target while $24 is the lowest. The $27.50 average target is 5.04% above today’s ($26.18) stock price. Mentor Graphics has been the topic of 10 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Friday, August 19 by DA Davidson. The company was downgraded on Friday, November 20 by Pacific Crest. Canaccord Genuity maintained Mentor Graphics Corp (NASDAQ:MENT) on Monday, August 24 with “Buy” rating. The firm has “Buy” rating by DA Davidson given on Monday, February 22. JP Morgan downgraded the stock to “Underweight” rating in Friday, November 20 report. The stock of Mentor Graphics Corp (NASDAQ:MENT) earned “Hold” rating by Needham on Monday, November 23. The stock has “Neutral” rating given by Bank of America on Friday, November 20. Canaccord Genuity maintained the shares of MENT in a report on Friday, August 21 with “Buy” rating. On Friday, November 20 the stock rating was downgraded by DA Davidson to “Neutral”.

More notable recent Mentor Graphics Corp (NASDAQ:MENT) news were published by: Wsj.com which released: “Elliott Doubles Stake in Mentor Graphics Corp.” on September 29, 2016, also Prnewswire.com with their article: “Mentor Graphics Expands Influence by Joining the WBGi Power Electronics …” published on October 03, 2016, Oregonlive.com published: “Mentor Graphics’ fate: A private equity sale?” on October 03, 2016. More interesting news about Mentor Graphics Corp (NASDAQ:MENT) were released by: Prnewswire.com and their article: “Mentor Graphics SystemVision Improves Siemens Building Technologies’ PCB …” published on September 26, 2016 as well as Prnewswire.com‘s news article titled: “Mentor Graphics to Present at the Credit Suisse Small & Mid Cap Conference” with publication date: September 07, 2016.

According to Zacks Investment Research, “MENTOR GRAPHICS CORP. designs, manufactures, markets and supports electronic design automation (EDA) software for the integrated circuit and systems design markets. The company provides a broad range of EDA tools developed either by the Company or together with third parties to support the entire electronic design process. The Company’s software products enable engineers and designers to design, analyze, place and route, and test custom (ASICs), printed circuit boards, multichip modules and other electronic systems and subsystems.”

MENT Company Profile

Mentor Graphics Corporation, incorporated on April 2, 1981, 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. The Firm markets its services and products across the world, mainly to companies in the communications, computer, consumer electronics, semiconductor, networking, military and aerospace, multimedia and transportation industries. The electronic components and systems that the Company’s clients create with its products include integrated circuits (ICs), printed circuit boards (PCBs), field programmable gate arrays (FPGAs), embedded software solutions and wire harness systems.

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