In a filing, Cadence Design Systems, Inc. revealed its Sr. Vice President Cunningham Paul unloaded Company’s shares for reported $0.28 million on May 01 ’24. In the deal valued at $275.36 per share,1,000 shares were sold. As a result of this transaction, Cunningham Paul now holds 67,144 shares worth roughly $18.91 million.
Then, Nisewaner Karna sold 600 shares, generating $165,216 in total proceeds. Upon selling the shares at $275.36, the SVP & General Counsel now owns 20,480 shares.
Before that, SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares. Cadence Design Systems, Inc. shares valued at $463,238 were divested by the Director at a price of $308.83 per share. As a result of the transaction, SANGIOVANNI VINCENTELLI ALBERT now holds 50,183 shares, worth roughly $14.13 million.
Piper Sandler initiated its Cadence Design Systems, Inc. [CDNS] rating to a Neutral in a research note published on April 04, 2024; the price target was $334. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid February from “an Equal-weight” to “an Overweight”. Rosenblatt also remained covering CDNS and has decreased its forecast on February 13, 2024 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley started covering the stock on November 10, 2023. It rated CDNS as “an Equal-weight”.
Price Performance Review of CDNS
On Friday, Cadence Design Systems, Inc. [NASDAQ:CDNS] saw its stock jump 1.88% to $281.63. Over the last five days, the stock has lost -0.28%. Cadence Design Systems, Inc. shares have risen nearly 3.40% since the year began. Nevertheless, the stocks have risen 35.76% over the past one year. While a 52-week high of $327.36 was reached on 03/21/24, a 52-week low of $198.92 was recorded on 01/05/24. SMA at 50 days reached $301.86, while 200 days put it at $267.65. A total of 1.37 million shares were traded, compared to the trading of 1.64 million shares in the previous session.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 279.21, which if violated will result in even more drops to 276.79. On the upside, there is a resistance level at 284.18. A further resistance level may holdings at 286.74. The Relative Strength Index (RSI) on the 14-day chart is 40.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.19%. Stochastics %K at 17.44% indicates the stock is a buying.
