Exclusive: What’s Mentor Graphics Corp Upside After Today’s Gap Up?

Exclusive: What's Mentor Graphics Corp Upside After Today's Gap Up?

The stock of Mentor Graphics Corp (NASDAQ:MENT) gapped up by $0.67 today and has $43.10 target or 63.00% above today’s $26.44 share price. The 6 months technical chart setup indicates low risk for the $2.85 billion company. The gap was reported on Oct, 1 by Barchart.com. If the $43.10 price target is reached, the company will be worth $1.80 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 7.09% or $1.75 during the last trading session, hitting $26.44. About 5.57 million shares traded hands or 254.78% up from the average. Mentor Graphics Corp (NASDAQ:MENT) has risen 38.43% since February 29, 2016 and is uptrending. It has outperformed by 28.00% the S&P500.

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. Mentor Graphics has been the topic of 10 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The company was downgraded on Friday, November 20 by DA Davidson. The rating was maintained by Canaccord Genuity with “Buy” on Friday, August 21. On Monday, August 24 the stock rating was maintained by Canaccord Genuity with “Buy”. The firm earned “Neutral” rating on Friday, August 19 by DA Davidson. The company was upgraded on Monday, February 22 by DA Davidson. The rating was downgraded by Needham on Monday, November 23 to “Hold”. Bank of America downgraded Mentor Graphics Corp (NASDAQ:MENT) rating on Friday, November 20. Bank of America has “Neutral” rating and $28 price target. On Friday, November 20 the stock rating was downgraded by Pacific Crest to “Sector Perform”. JP Morgan downgraded the stock to “Underweight” rating in Friday, November 20 report.

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 dropped, 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.
The Maryland-based Price T Rowe Associates Md has invested 0% in Mentor Graphics Corp (NASDAQ:MENT). Denver Invest Advsr owns 934,806 shares or 0.9% of their US portfolio. Moreover, Cetera Advisors Limited Liability Corp has 0.03% invested in Mentor Graphics Corp (NASDAQ:MENT) for 16,527 shares. Public Employees Retirement Association Of Colorado holds 0% or 21,855 shares in its portfolio. Blackrock Institutional Tru Commerce Na holds 0.01% of its portfolio in Mentor Graphics Corp (NASDAQ:MENT) for 3.01M shares. Piedmont Advsrs Limited Liability Company owns 170 shares or 0% of their US portfolio. Hgk Asset has invested 0.08% of its portfolio in Mentor Graphics Corp (NASDAQ:MENT). Numeric Invsts Limited Com accumulated 769,800 shares or 0.15% of the stock. Panagora Asset, a Massachusetts-based fund reported 12,338 shares. Amer Century, a Missouri-based fund reported 1.21M shares. Seven Eight Limited Liability has 0.01% invested in the company for 900 shares. Shelton Mngmt accumulated 0.02% or 9,961 shares. Loomis Sayles Commerce Limited Partnership holds 0% of its portfolio in Mentor Graphics Corp (NASDAQ:MENT) for 502 shares. Gotham Asset Mgmt Limited Liability Corp owns 908,762 shares or 0.23% of their US portfolio. Ngam L P last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 1 sale for $692,303 net activity. Shares for $692,303 were sold by HINCKLEY GREGORY K on Friday, May 27.

More notable recent Mentor Graphics Corp (NASDAQ:MENT) news were published by: Reuters.com which released: “Elliott takes 8.1 percent stake in Mentor Graphics” on September 29, 2016, also Prnewswire.com with their article: “Mentor Graphics SystemVision Improves Siemens Building Technologies’ PCB …” published on September 26, 2016, Reuters.com published: “BRIEF-Elliott associates and affiliates report 8.1 percent stake in Mentor…” on September 29, 2016. More interesting news about Mentor Graphics Corp (NASDAQ:MENT) were released by: Prnewswire.com and their article: “Mentor Graphics to Present at the Credit Suisse Small & Mid Cap Conference” published on September 07, 2016 as well as Forbes.com‘s news article titled: “Ex-Dividend Reminder: Broadcom, Mentor Graphics and Insperity” with publication date: September 13, 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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