Cadence Design Systems, Inc’s recent filing unveils that its Sr. Vice President Scannell Paul unloaded Company’s shares for reported $0.97 million on Dec 13 ’24. In the deal valued at $305.78 per share,3,171 shares were sold. As a result of this transaction, Scannell Paul now holds 14,318 shares worth roughly $4.46 million.
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Then, PAUL SCANNELL bought 3,171 shares, generating $969,628 in total proceeds.
Before that, Cunningham Paul sold 650 shares. Cadence Design Systems, Inc shares valued at $199,024 were divested by the Sr. Vice President at a price of $306.19 per share. As a result of the transaction, Cunningham Paul now holds 60,461 shares, worth roughly $18.82 million.
Wells Fargo initiated its Cadence Design Systems, Inc [CDNS] rating to an Overweight in a research note published on November 22, 2024; the price target was $350. A number of analysts have revised their coverage, including Loop Capital’s analysts, who began to cover the stock in mid November with a ‘”a Buy”‘ rating. Mizuho began covering CDNS with “an Outperform” recommendation on October 22, 2024. Berenberg started covering the stock on October 15, 2024. It rated CDNS as “a Buy”.
Price Performance Review of CDNS
On Tuesday, Cadence Design Systems, Inc [NASDAQ:CDNS] saw its stock fall -0.68% to $311.35. Over the last five days, the stock has gained 2.80%. Cadence Design Systems, Inc shares have risen nearly 14.31% since the year began. Nevertheless, the stocks have risen 14.67% 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 $290.91, while 200 days put it at $289.12.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 309.22, which if violated will result in even more drops to 307.10. On the upside, there is a resistance level at 314.60. A further resistance level may holdings at 317.86. The Relative Strength Index (RSI) on the 14-day chart is 55.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.10, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 57.21%. Stochastics %K at 39.63% 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 2024-11-29, dropping by -0.11 million shares to a total of 3.81 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 3.92 million shares. There was a decline of -2.91%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on September 25, 2024 when Oppenheimer began covering the stock and recommended ‘”an Underperform”‘ rating along with a $225 price target.
