In a filing, Cadence Design Systems, Inc revealed its Officer PAUL A CUNNINGHAM acquired Company’s shares for reported $0.19 million on Feb 03 ’25. In the deal valued at $292.32 per share,650 shares were bought.
Then, DEVGAN ANIRUDH sold 93,151 shares, generating $28,876,810 in total proceeds. Upon selling the shares at $310.00, the President and CEO now owns 55,874 shares.
Before that, TENG CHIN-CHI sold 12,500 shares. Cadence Design Systems, Inc shares valued at $3,748,180 were divested by the Sr. Vice President at a price of $299.85 per share. As a result of the transaction, TENG CHIN-CHI now holds 93,275 shares, worth roughly $27.82 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 jump 0.23% to $298.30. Over the last five days, the stock has gained 2.91%. Cadence Design Systems, Inc shares have fallen nearly -0.72% since the year began. Nevertheless, the stocks have risen 3.41% over the past one year. While a 52-week high of $328.99 was reached on 01/24/25, a 52-week low of $241.29 was recorded on 01/27/25. SMA at 50 days reached $305.27, while 200 days put it at $288.09.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 292.26, which if violated will result in even more drops to 286.23. On the upside, there is a resistance level at 301.90. A further resistance level may holdings at 305.50. The Relative Strength Index (RSI) on the 14-day chart is 47.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.88%. Stochastics %K at 32.11% 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 2025-01-15, dropping by -0.11 million shares to a total of 4.37 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 4.49 million shares. There was a decline of -2.56%, which implies that there is a negative 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.
