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

Filing Watching: 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/A form for Mentor Graphics Corp. The form can be accessed here: 000101359416001310. 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 November 12, 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

Item 4 is hereby amended to add the following:

On November 12, 2016, the Reporting Persons entered into a Support Agreement with the Issuer and Siemens Industry, Inc. (“Siemens”). Pursuant to the terms of the Support Agreement, the Reporting Persons agreed, among other things, to vote the shares of Common Stock beneficially owned by them in favor of the merger of Meadowlark Subsidiary Corporation, a wholly owned subsidiary of Siemens, with and into the Issuer (the “Merger”), at any meeting of shareholders called for such purpose. Solely in the event of the failure by the Reporting Persons to vote their shares of Common Stock in such a manner, the Reporting Persons have granted to the Issuer and Siemens an irrevocable proxy (the “Irrevocable Proxy) to vote the Reporting Persons’ shares of Common Stock in favor of the Merger at any meeting of shareholders called for such purpose. The Irrevocable Proxy automatically terminates upon termination of the Support Agreement. In addition, until the earliest of: (1) such time as the Issuer’s shareholders have approved the Merger, (2) the termination of the merger agreement, or (3) the Issuer’s board of directors having changed its recommendation as to the Merger, the Reporting Persons have agreed not to transfer their shares of Common Stock, except for transfers pursuant to which they retain the right to vote the Common Stock.

The foregoing description of the Support Agreement is qualified in its entirety by reference to the Support Agreement, which is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

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 worsened, 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.

Clearbridge Ltd Liability Corporation accumulated 0.03% or 1.37M shares. Dupont Corp, a Delaware-based fund reported 156,292 shares. The New Jersey-based Mcrae Incorporated has invested 0.1% in Mentor Graphics Corp (NASDAQ:MENT). Blackrock Institutional Tru Com Na accumulated 0.01% or 3.01 million shares. Moreover, Deutsche Bancorporation Ag has 0.02% invested in Mentor Graphics Corp (NASDAQ:MENT) for 1.45M shares. Metropolitan Life Insur Ny accumulated 0.03% or 168,578 shares. Piermont Cap Incorporated, a Missouri-based fund reported 142,640 shares. Ameritas Prns reported 24,253 shares or 0.03% of all its holdings. Next Fincl Group Inc Inc accumulated 100 shares or 0% of the stock. Ladenburg Thalmann Financial Ser accumulated 0% or 1,653 shares. Blackrock holds 102,475 shares or 0% of its portfolio. Ahl Partners Ltd Liability Partnership holds 0.15% or 132,257 shares in its portfolio. New York State Common Retirement Fund has 114,732 shares for 0% of their US portfolio. Walleye Trading Ltd Liability Com owns 64,826 shares or 0.01% of their US portfolio. Proshare Advsr Limited Liability Corporation holds 24,840 shares or 0.01% of its portfolio.

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

About 20.85M shares traded hands or 892.86% up from the average. Mentor Graphics Corp (NASDAQ:MENT) has risen 54.33% since April 12, 2016 and is uptrending. It has outperformed by 49.34% 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 $4.00 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 67.07 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 7 analysts covering Mentor Graphics (NASDAQ:MENT), 3 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 43% are positive. $30 is the highest target while $24 is the lowest. The $27.50 average target is -24.35% below today’s ($36.35) stock price. Mentor Graphics has been the topic of 12 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Monday, November 23 by Needham. JP Morgan downgraded Mentor Graphics Corp (NASDAQ:MENT) on Friday, November 20 to “Underweight” rating. The rating was maintained by Canaccord Genuity on Friday, August 21 with “Buy”. The stock of Mentor Graphics Corp (NASDAQ:MENT) earned “Sector Perform” rating by Pacific Crest on Friday, November 20. The rating was maintained by Canaccord Genuity with “Buy” on Monday, August 24. The stock has “Neutral” rating given by DA Davidson on Friday, November 20. The firm earned “Buy” rating on Monday, February 22 by DA Davidson. DA Davidson downgraded the shares of MENT in a report on Friday, August 19 to “Neutral” rating. The firm earned “Buy” rating on Monday, October 10 by DA Davidson. As per Wednesday, October 19, the company rating was initiated by Credit Suisse.

More notable recent Mentor Graphics Corp (NASDAQ:MENT) news were published by: Wsj.com which released: “Siemens to Buy Mentor Graphics in Multibillion-Dollar Software Push” on November 14, 2016, also Businessinsider.com with their article: “Siemens is looking to buy a software company under pressure from activists for …” published on November 14, 2016, Businesswire.com published: “MENTOR GRAPHICS CORPORATION SHAREHOLDER ALERT: Rigrodsky & Long, P.A …” on November 14, 2016. More interesting news about Mentor Graphics Corp (NASDAQ:MENT) were released by: Prnewswire.com and their article: “Mentor Graphics Integrates its Questa Verification Solution with Jenkins …” published on October 20, 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.

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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