Cadence Design Systems, Inc.’s recently made public that its Director SANGIOVANNI VINCENTELLI ALBERT unloaded Company’s shares for reported $0.43 million on Oct 15 ’24. In the deal valued at $283.66 per share,1,500 shares were sold. As a result of this transaction, SANGIOVANNI VINCENTELLI ALBERT now holds 42,051 shares worth roughly $10.63 million.
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Then, SANGIOVANNI VINCENTELLI ALBERT bought 1,500 shares, generating $425,490 in total proceeds.
Before that, WALL JOHN M sold 25 shares. Cadence Design Systems, Inc. shares valued at $6,589 were divested by the Sr. VP & CFO at a price of $263.57 per share. As a result of the transaction, WALL JOHN M now holds 35,853 shares, worth roughly $9.06 million.
Mizuho initiated its Cadence Design Systems, Inc. [CDNS] rating to an Outperform in a research note published on October 22, 2024; the price target was $325. A number of analysts have revised their coverage, including Berenberg’s analysts, who began to cover the stock in mid October with a ‘”a Buy”‘ rating. Oppenheimer began covering CDNS with “an Underperform” recommendation on September 25, 2024. Piper Sandler revised its rating on August 06, 2024. It rated CDNS as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of CDNS
On Monday, Cadence Design Systems, Inc. [NASDAQ:CDNS] saw its stock fall -1.76% to $252.77. Over the last five days, the stock has lost -0.15%. Cadence Design Systems, Inc. shares have fallen nearly -7.20% since the year began. Nevertheless, the stocks have risen 9.69% 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 $267.10, while 200 days put it at $287.99.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 250.09, which if violated will result in even more drops to 247.40. On the upside, there is a resistance level at 257.18. A further resistance level may holdings at 261.59. The Relative Strength Index (RSI) on the 14-day chart is 39.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -10.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.93%. Stochastics %K at 18.71% 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 2024-10-15, dropping by -0.28 million shares to a total of 3.29 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.56 million shares. There was a decline of -8.44%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on April 04, 2024 when Piper Sandler began covering the stock and recommended ‘”a Neutral”‘ rating along with a $334 price target.
