Cadence Design Systems, Inc.’s recently made public that its Director SANGIOVANNI VINCENTELLI ALBERT unloaded Company’s shares for reported $0.43 million on May 15 ’24. In the deal valued at $287.14 per share,1,500 shares were sold. As a result of this transaction, SANGIOVANNI VINCENTELLI ALBERT now holds 49,551 shares worth roughly $14.23 million.
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Then, Cunningham Paul sold 1,000 shares, generating $275,360 in total proceeds. Upon selling the shares at $275.36, the Sr. Vice President now owns 67,144 shares.
Before that, Nisewaner Karna sold 600 shares. Cadence Design Systems, Inc. shares valued at $165,216 were divested by the SVP & General Counsel at a price of $275.36 per share. As a result of the transaction, Nisewaner Karna now holds 20,480 shares, worth roughly $5.88 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 Tuesday, Cadence Design Systems, Inc. [NASDAQ:CDNS] saw its stock jump 0.34% to $287.13. Over the last five days, the stock has lost -3.07%. Cadence Design Systems, Inc. shares have risen nearly 5.42% since the year began. Nevertheless, the stocks have risen 25.01% over the past one year. While a 52-week high of $327.36 was reached on 03/21/24, a 52-week low of $217.77 was recorded on 01/05/24. SMA at 50 days reached $293.23, while 200 days put it at $273.69. A total of 1.13 million shares were traded, compared to the trading of 1.27 million shares in the previous session.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 283.97, which if violated will result in even more drops to 280.82. On the upside, there is a resistance level at 290.06. A further resistance level may holdings at 293.00. The Relative Strength Index (RSI) on the 14-day chart is 46.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 64.61%. Stochastics %K at 32.77% indicates the stock is a holding.
