Cadence Design Systems, Inc’s recent filing unveils that its Officer CHIN-CHI TENG acquired Company’s shares for reported $3.75 million on Jan 03 ’25. In the deal valued at $299.85 per share,12,500 shares were bought.
Then, ANIRUDH DEVGAN bought 5,920 shares, generating $1,799,928 in total proceeds.
Before that, PAUL A CUNNINGHAM bought 650 shares. Cadence Design Systems, Inc shares valued at $198,146 were divested by the Officer at a price of $304.84 per share.
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 Friday, Cadence Design Systems, Inc [NASDAQ:CDNS] saw its stock jump 2.08% to $303.86. Over the last five days, the stock has lost -1.56%. Cadence Design Systems, Inc shares have risen nearly 1.13% since the year began. Nevertheless, the stocks have risen 18.10% over the past one year. While a 52-week high of $328.99 was reached on 01/03/25, a 52-week low of $241.29 was recorded on 01/02/25. SMA at 50 days reached $298.51, while 200 days put it at $288.85.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 298.91, which if violated will result in even more drops to 293.97. On the upside, there is a resistance level at 307.52. A further resistance level may holdings at 311.18. The Relative Strength Index (RSI) on the 14-day chart is 50.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.40%. Stochastics %K at 22.46% 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 2024-12-13, growing by 0.86 million shares to a total of 4.49 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 3.63 million shares. There was a rise of 19.13%, which implies that there is a positive 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.
