Zacks Investment Research downgraded shares of Mentor Graphics Corp. (NASDAQ:MENT) from a hold rating to a sell rating in a research report released on Thursday.

According to Zacks, “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. “

Several other analysts also recently weighed in on the stock. Pacific Crest reaffirmed a hold rating on shares of Mentor Graphics Corp. in a report on Thursday, August 18th. DA Davidson downgraded shares of Mentor Graphics Corp. from a buy rating to a neutral rating in a report on Friday, August 19th. Finally, KeyCorp reaffirmed a hold rating on shares of Mentor Graphics Corp. in a report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.67.

Shares of Mentor Graphics Corp. (NASDAQ:MENT) traded down 0.385% during mid-day trading on Thursday, reaching $26.159. 263,059 shares of the company traded hands. The stock’s 50-day moving average is $24.28 and its 200-day moving average is $21.78. The company has a market capitalization of $2.83 billion, a P/E ratio of 45.494 and a beta of 0.86. Mentor Graphics Corp. has a 52 week low of $16.10 and a 52 week high of $28.09.

Mentor Graphics Corp. (NASDAQ:MENT) last issued its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The business had revenue of $254.34 million for the quarter, compared to the consensus estimate of $245.17 million. Mentor Graphics Corp. had a net margin of 5.85% and a return on equity of 6.15%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Mentor Graphics Corp. will post $1.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Thursday, September 15th. Mentor Graphics Corp.’s payout ratio is currently 40.74%.

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of 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 last quarter. State Street Corp boosted its position in shares of 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 last quarter. LSV Asset Management boosted its position in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 last quarter. Institutional investors own 97.77% of the company’s stock.

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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