Cadence Design Systems (CDNS) Shares are Up 2.9%

Cadence Design Systems (CDNS) has been under a strong bear grip, hence the stock is down -0.93% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.73% in the past 1 week. The stock has risen by 2.9% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.47% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 1.86% and the 50-Day Moving Average is 2.38%.The 200 Day SMA reached 10.03%

Cadence

Cadence Design Systems (NASDAQ:CDNS): After opening at $25.37, the stock dipped to an intraday low of $25.2215 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $25.655 and the buying power remained strong till the end. The stock closed at $25.53 for the day, a gain of 1.23% for the day session. The total traded volume was 1,758,558. The stocks close on the previous trading day was $25.53.

Cadence Design Systems (CDNS) : The highest short term price target forecast on Cadence Design Systems (CDNS) is $30 and the lowest target price is $24. A total of 6 equity analysts are currently covering the company. The average price of all the analysts is $27.17 with a standard deviation of $2.32.

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.

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