Notable Runner: Is Buying 52-Week Stock Like Mentor Graphics Corp a Winning Strategy?

Notable Runner: Is Buying 52 Week Stock Like Mentor Graphics Corp a Winning Strategy?

The stock of Mentor Graphics Corp (NASDAQ:MENT) hit a new 52-week high and has $50.32 target or 37.00% above today’s $36.73 share price. The 9 months bullish chart indicates low risk for the $4.03B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $50.32 price target is reached, the company will be worth $1.49B 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 1.23M shares traded hands. Mentor Graphics Corp (NASDAQ:MENT) has risen 80.95% since April 14, 2016 and is uptrending. It has outperformed by 76.27% the S&P500.

Mentor Graphics Corp (NASDAQ:MENT) Ratings Coverage

Out of 7 analysts covering Mentor Graphics (NASDAQ:MENT), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. Mentor Graphics has been the topic of 13 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Bank of America downgraded it to “Neutral” rating and $28 target price in Friday, November 20 report. The rating was downgraded by Pacific Crest on Friday, November 20 to “Sector Perform”. The stock has “Neutral” rating given by DA Davidson on Tuesday, November 15. Canaccord Genuity maintained Mentor Graphics Corp (NASDAQ:MENT) rating on Monday, August 24. Canaccord Genuity has “Buy” rating and $30 price target. The rating was downgraded by JP Morgan to “Underweight” on Friday, November 20. The rating was maintained by Canaccord Genuity on Friday, August 21 with “Buy”. The stock of Mentor Graphics Corp (NASDAQ:MENT) earned “Hold” rating by Needham on Monday, November 23. Credit Suisse initiated the shares of MENT in a report on Wednesday, October 19 with “Outperform” rating. DA Davidson downgraded Mentor Graphics Corp (NASDAQ:MENT) on Friday, August 19 to “Neutral” rating. On Monday, October 10 the stock rating was upgraded by DA Davidson to “Buy”.

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 turned 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.
Manufacturers Life Insurance The owns 207,887 shares or 0.01% of their US portfolio. Joel Isaacson & Company Ltd Liability last reported 84 shares in the company. Moreover, Victory Management Inc has 0.3% invested in Mentor Graphics Corp (NASDAQ:MENT) for 3.51 million shares. Tudor Invest Et Al holds 0.01% of its portfolio in Mentor Graphics Corp (NASDAQ:MENT) for 11,423 shares. American Grp holds 0% or 253,171 shares in its portfolio. Horrell Cap accumulated 59,000 shares or 0.74% of the stock. Highbridge Capital Mgmt Ltd Liability Corp accumulated 654,111 shares or 0.23% of the stock. Amalgamated Bankshares last reported 0.02% of its portfolio in the stock. Dynamic Capital Ltd holds 112,273 shares or 0.28% of its portfolio. Moreover, Ngam Advsrs L P has 0.01% invested in Mentor Graphics Corp (NASDAQ:MENT) for 39,800 shares. Herald Invest Mgmt Limited has invested 2.22% of its portfolio in Mentor Graphics Corp (NASDAQ:MENT). Bahl & Gaynor has 40,079 shares for 0.01% of their US portfolio. Schwab Charles Investment Mgmt Inc reported 534,433 shares or 0.01% of all its holdings. State Of New Jersey Common Pension Fund D last reported 155,000 shares in the company. Ls Limited Company last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 1 sale for $692,303 net activity. 32,396 shares with value of $692,303 were sold by HINCKLEY GREGORY K on Friday, May 27.

More notable recent Mentor Graphics Corp (NASDAQ:MENT) news were published by: Wsj.com which released: “Siemens to Buy Mentor Graphics Amid Push to Digitize Heavy Industry” on November 14, 2016, also Reuters.com with their article: “BRIEF-Mentor Graphics Corp says signs agreement with arm to accelerate ear…” published on November 16, 2016, Oregonlive.com published: “Mentor Graphics’ sale ends an era in the Silicon Forest” on November 15, 2016. More interesting news about Mentor Graphics Corp (NASDAQ:MENT) were released by: Prnewswire.com and their article: “Mentor Graphics Signs Agreement with ARM to Accelerate Early Hardware/Software …” published on November 16, 2016 as well as Prnewswire.com‘s news article titled: “Harwood Feffer LLP Announces Investigation of Mentor Graphics Corporation” with publication date: November 15, 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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