Cadence Design Systems (NASDAQ:CDNS) has tumbled 1.78% during the past week and has dropped 1.18% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.6%. Cadence Design Systems (NASDAQ:CDNS) has underperformed the index by 2.08% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Cadence Design Systems (NASDAQ:CDNS): The stock opened at $24.37 on Friday but the bulls could not build on the opening and the stock topped out at $24.37 for the day. The stock traded down to $24.11 during the day, due to lack of any buying support eventually closed down at $24.26 with a loss of -0.57% for the day. The stock had closed at $24.40 on the previous day. The total traded volume was 4,055,146 shares.
The company shares have rallied 20.88% from its 1 Year high price. On May 25, 2016, the shares registered one year high at $25.49 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $24.17 and the 200 Day Moving Average price is recorded at $22.20.
On the companys insider trading activities, The director officer (President & CEO), of Cadence Design Systems Inc, Tan Lip Bu had unloaded 150,000 shares at $24.39 per share in a transaction on June 15, 2016. The total value of transaction was $3,658,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Needham, downgrades their rating on the shares of Cadence Design Systems (NASDAQ:CDNS). Needham has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 14, 2016. Currently the company Insiders own 2.7% of Cadence Design Systems shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -7.77% . Institutional Investors own 88.53% of Cadence Design Systems shares. During last six month period, the net percent change held by insiders has seen a change of -7.77%.
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.