Needham & Company Maintains a 'Buy' on Mentor Graphics (MENT); Strong 2QF12 Results and Guidance As EDA Hit Parade Continues
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Price: $37.25 --0%
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Mentor Graphics (NASDAQ: MENT) price target lowered from $17 to $15.
Needham analyst says, "Much like Cadence and Synopsys which reported before it, Mentor put up very solid 2QF12 results, including better than expected 3Q guidance. And management suggested they were seeing no signs of slowing in their business—even in emulation, which saw a flurry of new orders in the last 2 days. While we expect macro headwinds/headlines are likely to keep investors skeptical on the sustainability of the recent strength in the EDA sector, we continue to see EDA as a more resilient and defensive way to play the secular trend of increasing semiconductor penetration."
"Our F12 revenue estimate is essentially unchanged at $1.004B, but with a less 4Q weighted profile. EPS is tweaked up to $1.02 from $1.00. For F13, revenue is also unchanged at $1.059B while EPS is tweaked up to $1.18 from $1.15."
For more ratings news on Mentor Graphics click here and for the rating history of Mentor Graphics click here.
Shares of Mentor Graphics closed at $8.85 yesterday.
Needham analyst says, "Much like Cadence and Synopsys which reported before it, Mentor put up very solid 2QF12 results, including better than expected 3Q guidance. And management suggested they were seeing no signs of slowing in their business—even in emulation, which saw a flurry of new orders in the last 2 days. While we expect macro headwinds/headlines are likely to keep investors skeptical on the sustainability of the recent strength in the EDA sector, we continue to see EDA as a more resilient and defensive way to play the secular trend of increasing semiconductor penetration."
"Our F12 revenue estimate is essentially unchanged at $1.004B, but with a less 4Q weighted profile. EPS is tweaked up to $1.02 from $1.00. For F13, revenue is also unchanged at $1.059B while EPS is tweaked up to $1.18 from $1.15."
For more ratings news on Mentor Graphics click here and for the rating history of Mentor Graphics click here.
Shares of Mentor Graphics closed at $8.85 yesterday.
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