In a filing, Cadence Design Systems, Inc revealed its Director SANGIOVANNI VINCENTELLI ALBERT acquired Company’s shares for reported $0.45 million on Nov 15 ’24. In the deal valued at $298.45 per share,1,500 shares were bought.
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Then, CHIN-CHI TENG bought 10,000 shares, generating $2,955,964 in total proceeds.
Before that, BECKLEY THOMAS P bought 19,353 shares. Cadence Design Systems, Inc shares valued at $5,868,282 were divested by the Officer at a price of $303.22 per share.
Loop Capital initiated its Cadence Design Systems, Inc [CDNS] rating to a Buy in a research note published on November 12, 2024; the price target was $360. A number of analysts have revised their coverage, including Mizuho’s analysts, who began to cover the stock in late October with a ‘”an Outperform”‘ rating. Berenberg began covering CDNS with “Buy” recommendation on October 15, 2024. Oppenheimer started covering the stock on September 25, 2024. It rated CDNS as “an Underperform”.
Price Performance Review of CDNS
On Monday, Cadence Design Systems, Inc [NASDAQ:CDNS] saw its stock jump 1.59% to $294.33. Over the last five days, the stock has lost -2.19%. Cadence Design Systems, Inc shares have risen nearly 8.06% since the year began. Nevertheless, the stocks have risen 10.24% over the past one year. While a 52-week high of $328.99 was reached on 06/20/24, a 52-week low of $241.29 was recorded on 08/05/24. SMA at 50 days reached $275.32, while 200 days put it at $288.39.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 290.08, which if violated will result in even more drops to 285.83. On the upside, there is a resistance level at 297.26. A further resistance level may holdings at 300.20. The Relative Strength Index (RSI) on the 14-day chart is 56.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.36, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 45.26%. Stochastics %K at 63.17% indicates the stock is a holding.
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 2024-10-31, growing by 0.56 million shares to a total of 3.92 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 3.36 million shares. There was a rise of 14.3%, which implies that there is a positive sentiment for the stock.
