Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cadence Design Systems, Inc shares valued at $447,675 were sold by SANGIOVANNI VINCENTELLI ALBERT on Nov 15 ’24. At $298.45 per share, SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares. The insider’s holdings dropped to 40,551 shares worth approximately $12.43 million following the completion of this transaction.
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Also, TENG CHIN-CHI sold 10,000 shares, netting a total of over 2,955,964 in proceeds. Following the sale of shares at $295.60 each, the insider now holds 93,275 shares.
Before that, SANGIOVANNI VINCENTELLI ALBERT had added 1,500 shares to its account. In a trade valued at $447,675, the Director bought Cadence Design Systems, Inc shares for $298.45 each.
As published in their initiating research note from Loop Capital on November 12, 2024, Cadence Design Systems, Inc [CDNS] has been a Buy and the price target has been revised to $360. Analysts at Mizuho started covering the stock with ‘”an Outperform”‘ outlook in a report released in late October. As of October 15, 2024, Berenberg has initiated its “Buy” rating for CDNS. Earlier on September 25, 2024, Oppenheimer initiated its rating. Their recommendation was “an Underperform” for CDNS stock.
Analyzing CDNS Stock Performance
During the last five days, there has been a surge of approximately 1.15%. Over the course of the year, Cadence Design Systems, Inc shares have jumped approximately 12.53%. Shares of the company reached a 52-week high of $328.99 on 06/20/24 and a 52-week low of $241.29 on 08/05/24. A 50-day SMA is recorded $277.72, while a 200-day SMA reached $288.49. Nevertheless, trading volume fell to 1.13 million shares from 1.72 million shares the previous day.
Support And Resistance Levels for Cadence Design Systems, Inc (CDNS)
According to the 24-hour chart, there is a support level at 302.16, which, if violated, would cause prices to drop to 297.80. In the upper region, resistance lies at 309.66. The next price resistance is at 312.81. RSI (Relative Strength Index) is 62.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.62, which suggests the price will increase in the coming days. Percent R is at 12.60%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
