Pacific Crest Downgrades Mentor Graphics (MENT) to Sector Weight

Pacific Crest downgraded Mentor Graphics (NASDAQ: MENT) from Overweight to Sector Weight and removed its price target. The change follows Q4 results and disappointing guidance.

Analyst Monika Garg said, "Results were in line but FQ4 guidance was reduced by $105 million. Cadence's release of a new emulation tool and consolidation were the main reasons for lowered guidance. Preliminary F2017 guidance was also meaningfully lower than our estimates. We are downgrading to Sector Weight as we expect semiconductor industry consolidation to continue, which could pose challenges to Mentor’s growth."

For an analyst ratings summary and ratings history on Mentor Graphics click here. For more ratings news on Mentor Graphics click here.

Shares of Mentor Graphics closed at $27.78 yesterday.

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