Cadence Design Systems (CDNS) : Traders are bullish on Cadence Design Systems (CDNS) as it has outperformed the S&P 500 by a wide margin of 1.03% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.61%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.12% in the last 1 week, and is up 5.44% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 4.36% and the 50-Day Moving Average is 4.97%.
Cadence Design Systems (NASDAQ:CDNS): The stock opened at $25.72 on Friday but the bulls could not build on the opening and the stock topped out at $25.80 for the day. The stock traded down to $25.53 during the day, due to lack of any buying support eventually closed down at $25.58 with a loss of -0.58% for the day. The stock had closed at $25.73 on the previous day. The total traded volume was 1,800,184 shares.
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 88.05% of Cadence Design Systems shares. During last six month period, the net percent change held by insiders has seen a change of -7.77%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Sr. Vice President) of Cadence Design Systems Inc, Hsu Chi-Ping had sold 3,750 shares worth of $96,000 in a transaction dated July 12, 2016. In this transaction, 3,750 shares were sold at $25.6 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.