Cadence Design Systems (CDNS) : During the past 4 weeks, traders have been relatively bearish on Cadence Design Systems (CDNS), hence the stock is down -4.56% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -7.69% relative to the S&P 500. The 4-week change in the price of the stock is -1.35% and the stock has fallen -7.75% in the past 1 week.
The stock has recorded a 20-day Moving Average of 4.39% and the 50-Day Moving Average is 2.8%. Cadence Design Systems Inc. is up 3.71% in the last 3-month period. Year-to-Date the stock performance stands at 15.57%.
Cadence Design Systems (NASDAQ:CDNS): stock turned positive on Friday. Though the stock opened at $24.05, the bulls momentum made the stock top out at $24.16 level for the day. The stock recorded a low of $23.83 and closed the trading day at $24.05, in the green by 0.17%. The total traded volume for the day was 2,482,460. The stock had closed at $24.01 in the previous days trading.
Also, In a research note released to the investors, Needham downgrades its rating on Cadence Design Systems (NASDAQ:CDNS).The analysts at the brokerage house have a current rating of Hold on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on June 14, 2016.
Cadence Design Systems, Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Companys SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP) verification IP (VIP) and design IP. The Company provides maintenance for its software, emulation hardware and IP product offerings. It also provides engineering services related to methodology, education, hosted design solutions and design services for ICs and development of custom IP. The companys customers include electronics systems and semiconductor companies, Internet service providers and other technology companies that deliver a range of electronics products in market segments, such as mobile and consumer devices, communications, cloud and data center infrastructure, medical systems and other devices.