In a filing, Cadence Design Systems, Inc revealed its President and CEO DEVGAN ANIRUDH unloaded Company’s shares for reported $28.88 million on Jan 06 ’25. In the deal valued at $310.00 per share,93,151 shares were sold. As a result of this transaction, DEVGAN ANIRUDH now holds 55,874 shares worth roughly $16.34 million.
Then, TENG CHIN-CHI sold 12,500 shares, generating $3,748,180 in total proceeds. Upon selling the shares at $299.85, the Sr. Vice President now owns 93,275 shares.
Before that, DEVGAN ANIRUDH sold 5,920 shares. Cadence Design Systems, Inc shares valued at $1,799,928 were divested by the President and CEO at a price of $304.04 per share. As a result of the transaction, DEVGAN ANIRUDH now holds 55,874 shares, worth roughly $16.34 million.
Redburn Atlantic initiated its Cadence Design Systems, Inc [CDNS] rating to a Buy in a research note published on January 13, 2025; the price target was $350. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in late November with a ‘”an Overweight”‘ rating. Loop Capital began covering CDNS with “Buy” recommendation on November 12, 2024. Mizuho started covering the stock on October 22, 2024. It rated CDNS as “an Outperform”.
Price Performance Review of CDNS
On Monday, Cadence Design Systems, Inc [NASDAQ:CDNS] saw its stock fall -2.17% to $292.50. Over the last five days, the stock has lost -3.74%. Cadence Design Systems, Inc shares have fallen nearly -2.65% since the year began. Nevertheless, the stocks have risen 11.11% over the past one year. While a 52-week high of $328.99 was reached on 01/06/25, a 52-week low of $241.29 was recorded on 01/13/25. SMA at 50 days reached $302.69, while 200 days put it at $288.40.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 289.49, which if violated will result in even more drops to 286.48. On the upside, there is a resistance level at 296.93. A further resistance level may holdings at 301.37. The Relative Strength Index (RSI) on the 14-day chart is 40.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.55%. Stochastics %K at 19.27% 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 2024-12-31, growing by 0.67 million shares to a total of 4.48 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 3.81 million shares. There was a rise of 15.02%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 15, 2024 when Berenberg began covering the stock and recommended ‘”a Buy”‘ rating along with a $320 price target.
