Cadence Design Systems (CDNS) : Traders are increasing their bearish positions on the stock, as is visible by the 5.5% jump in the outstanding short positions; a total addition of 676,523 shares on the sell side. On Jul 29, 2016, the total short positions were 12,209,993 shares, which went up to 12,886,516 shares by the close of trading on August 15, 2016. It will take 9 days for the bears to roll over or cover. An average of 1,495,220 shares exchange hands daily. 4.5% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Cadence Design Systems (NASDAQ:CDNS): The stock opened at $25.17 on Wednesday but the bulls could not build on the opening and the stock topped out at $25.28 for the day. The stock traded down to $25.09 during the day, due to lack of any buying support eventually closed down at $25.21 with a loss of -0.12% for the day. The stock had closed at $25.24 on the previous day. The total traded volume was 2,585,349 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (President & CEO) of Cadence Design Systems Inc, Tan Lip Bu had sold 150,000 shares worth of $3,721,500 in a transaction dated August 15, 2016. In this transaction, 150,000 shares were sold at $24.81 per share.
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.