Cadence Design Systems (CDNS) Shares are Up 2.32%

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 6.54% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3%, 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 2.32% in the last 1 week, and is up 6.32% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 3.73% and the fifty day Moving Average is 3.36%. Cadence Design Systems Inc. is up 2.08% in the last three month period. Year-to-Date the stock performance stands at 22.87%.

Cadence Design Systems (CDNS) : 7 Wall Street analysts covering Cadence Design Systems (CDNS) believe that the average level the stock could reach for the short term is $27.07. The maximum price target given is $30 and the minimum target for short term is around $24, hence the standard deviation is calculated at $2.13.


Cadence Design Systems (NASDAQ:CDNS): stock turned positive on Friday. Though the stock opened at $25.48, the bulls momentum made the stock top out at $25.71 level for the day. The stock recorded a low of $25.38 and closed the trading day at $25.57, in the green by 0.55%. The total traded volume for the day was 1,749,819. The stock had closed at $25.43 in the previous days trading.

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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