Cadence Design Systems (NASDAQ:CDNS), A rise of 118,631 shares or 1% was seen in the short interest of Cadence Design Systems, Inc.. Even as the interest increased from 12,340,665 shares on May 31,2016 to 12,459,296 shares on June 15,2016, the days to cover came in at 5. The updated interest stood at 4.2% of the stocks floats. The stock has seen an average daily volume of 2,628,440 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Cadence Design Systems (NASDAQ:CDNS): The stock opened at $23.76 on Friday but the bulls could not build on the opening and the stock topped out at $24.16 for the day. The stock traded down to $23.74 during the day, due to lack of any buying support eventually closed down at $23.78 with a loss of -3.41% for the day. The stock had closed at $24.62 on the previous day. The total traded volume was 3,438,083 shares.
The company shares have rallied 22.01% 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 $24.35 and the 200 Day Moving Average price is recorded at $22.29.
Cadence Design Systems (NASDAQ:CDNS) has tumbled 1.98% during the past week and has dropped 5.07% 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 0.35%. Cadence Design Systems (NASDAQ:CDNS) has underperformed the index by 2.2% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.