Cadence Design Systems, Inc.’s recently made public that its Sr. Vice President Cunningham Paul unloaded Company’s shares for reported $0.18 million on Oct 01 ’24. In the deal valued at $273.44 per share,650 shares were sold. As a result of this transaction, Cunningham Paul now holds 61,761 shares worth roughly $16.23 million.
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Then, PAUL A CUNNINGHAM bought 650 shares, generating $177,736 in total proceeds.
Before that, SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares. Cadence Design Systems, Inc. shares valued at $413,970 were divested by the Director at a price of $275.98 per share. As a result of the transaction, SANGIOVANNI VINCENTELLI ALBERT now holds 43,551 shares, worth roughly $11.45 million.
Oppenheimer initiated its Cadence Design Systems, Inc. [CDNS] rating to an Underperform in a research note published on September 25, 2024; the price target was $225. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early August from “a Neutral” to “an Overweight”. Piper Sandler began covering CDNS with “Neutral” recommendation on April 04, 2024. Morgan Stanley revised its rating on February 14, 2024. It rated CDNS as “an Overweight” which previously was an “an Equal-weight”.
Price Performance Review of CDNS
On Monday, Cadence Design Systems, Inc. [NASDAQ:CDNS] saw its stock fall -2.16% to $262.86. Over the last five days, the stock has lost -3.01%. Cadence Design Systems, Inc. shares have fallen nearly -3.49% since the year began. Nevertheless, the stocks have risen 11.96% over the past one year. While a 52-week high of $328.99 was reached on 06/20/24, a 52-week low of $228.66 was recorded on 08/05/24. SMA at 50 days reached $266.96, while 200 days put it at $288.17.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 260.74, which if violated will result in even more drops to 258.62. On the upside, there is a resistance level at 265.58. A further resistance level may holdings at 268.30. The Relative Strength Index (RSI) on the 14-day chart is 44.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.95, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.56%. Stochastics %K at 16.74% indicates the stock is a buying.
How much short interest is there in Cadence Design Systems, Inc.?
A steep rise in short interest was recorded in Cadence Design Systems, Inc. stocks on 2024-09-13, growing by 0.28 million shares to a total of 3.56 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 3.28 million shares. There was a rise of 7.99%, which implies that there is a positive sentiment for the stock.
