Price Action To Observe: Does Mentor Graphics Corp Have More Gas After Touching 52-Week High?

Price Action To Observe: Does Mentor Graphics Corp Have More Gas After Touching 52 Week High?

The stock of Mentor Graphics Corp (NASDAQ:MENT) hit a new 52-week high and has $37.35 target or 29.00% above today’s $28.95 share price. The 8 months bullish chart indicates low risk for the $3.18 billion company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $37.35 price target is reached, the company will be worth $922.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 109,647 shares traded hands. Mentor Graphics Corp (NASDAQ:MENT) has risen 45.95% since March 16, 2016 and is uptrending. It has outperformed by 40.40% the S&P500.

Mentor Graphics Corp (NASDAQ:MENT) Ratings Coverage

Out of 6 analysts covering Mentor Graphics (NASDAQ:MENT), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. $30 is the highest target while $24 is the lowest. The $27.50 average target is -5.01% below today’s ($28.95) stock price. Mentor Graphics has been the topic of 11 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Needham downgraded Mentor Graphics Corp (NASDAQ:MENT) on Monday, November 23 to “Hold” rating. The stock has “Neutral” rating given by DA Davidson on Friday, August 19. Canaccord Genuity maintained it with “Buy” rating and $30 target price in Monday, August 24 report. DA Davidson upgraded Mentor Graphics Corp (NASDAQ:MENT) on Monday, October 10 to “Buy” rating. The firm has “Neutral” rating given on Friday, November 20 by DA Davidson. The stock has “Buy” rating given by DA Davidson on Monday, February 22. Bank of America downgraded Mentor Graphics Corp (NASDAQ:MENT) rating on Friday, November 20. Bank of America has “Neutral” rating and $28 price target. The firm earned “Underweight” rating on Friday, November 20 by JP Morgan. The stock has “Sector Perform” rating given by Pacific Crest on Friday, November 20. As per Friday, August 21, the company rating was maintained by Canaccord Genuity.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.14 in Q2 2016. Its down 0.39, from 1.53 in 2016Q1. The ratio is negative, 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.
Veritable Limited Partnership holds 0.01% of its portfolio in Mentor Graphics Corp (NASDAQ:MENT) for 10,156 shares. Nationwide Fund Advsrs has 0.03% invested in the company for 311,011 shares. Jefferies Grp Limited Liability reported 114,770 shares or 0.01% of all its holdings. Paradigm Asset Mngmt Com has 32,000 shares for 0% of their US portfolio. Prudential Financial Incorporated last reported 277,243 shares in the company. Principal Finance Grp Incorporated owns 377,494 shares or 0.01% of their US portfolio. Ladenburg Thalmann Financial Incorporated has 1,653 shares for 0% of their US portfolio. Fulton Breakefield Broenniman Ltd, a Maryland-based fund reported 10,774 shares. Moreover, Gsa Prtn Limited Liability Partnership has 0.12% invested in Mentor Graphics Corp (NASDAQ:MENT) for 99,848 shares. Jacobs Levy Equity accumulated 646,891 shares or 0.28% of the stock. Moreover, Fifth Third Bank has 0% invested in Mentor Graphics Corp (NASDAQ:MENT) for 377 shares. John G Ullman & Assocs Incorporated has 0.55% invested in the company for 125,667 shares. Citadel Advsrs Lc owns 22,175 shares or 0% of their US portfolio. Swiss Savings Bank has 0.01% invested in the company for 162,100 shares. Macquarie Group Incorporated Limited accumulated 50,500 shares or 0% of the stock.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 1 sale for $692,303 net activity. Another trade for 32,396 shares valued at $692,303 was sold by HINCKLEY GREGORY K.

More notable recent Mentor Graphics Corp (NASDAQ:MENT) news were published by: Reuters.com which released: “Mentor Graphics working with Bank of America to explore sale-sources” on October 16, 2016, also Wsj.com with their article: “Elliott Doubles Stake in Mentor Graphics Corp.” published on September 29, 2016, Prnewswire.com published: “Mentor Graphics Partnership with RTI Enables Secure Embedded Solution for …” on October 13, 2016. More interesting news about Mentor Graphics Corp (NASDAQ:MENT) were released by: Prnewswire.com and their article: “Mentor Graphics Acquires Galaxy Semiconductor” published on October 10, 2016 as well as Prnewswire.com‘s news article titled: “Mentor Graphics Announces Availability of Qualified Calibre PERC Rule Decks …” with publication date: October 19, 2016.

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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