MENTOR GRAPHICS CORP. $25.25 (Nasdaq symbol MENT; TSINetwork Rating: Extra Risk) (503-685-7000; www.mentor.com; Shares outstanding: 116.3 million; Market cap: $3.0 billion; Dividend yield: 0.9%) makes systems that improve the design of electronic products and speed up their development. Its products are used in a range of industries.
As an example, Mentor’s software lets automotive component and chip makers use less wiring, identify potential safety and security issues and minimize electromagnetic effects on sensitive modules. The auto business is one of the company’s biggest growth areas because it’s quickly shifting from mechanical to electronic systems: electronics now make up roughly 40% of a car’s cost.
Whether or not regulators ever approve a true driverless car, research on those vehicles is rapidly accelerating advanced driver assistance systems, such as collision avoidance; infotainment, including GPS; and connectivity apps that record data about a car’s performance, sync with smartphones and notify emergency services.
In the three months ended July 31, 2015, Mentor’s revenue rose 8.0%, to $281.1 million from $260.2 million a year earlier. Earnings per share jumped to $0.36 from $0.23. The company makes about 70% of its profits in its fiscal fourth quarter, which ends January 31. That’s the busiest period in its customers’ purchasing cycle.
Mentor holds cash of $295.4 million, or $2.54 a share, and has low debt. It spends a very high 33% of its revenue on research to keep ahead in its competitive and constantly changing markets.
The stock trades at 13.3 times this year’s forecast earnings of $1.90 a share. It yields 0.9%.
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