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 5.12% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.82%, 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 1.33% in the last 1 week, and is up 4.98% 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 3.66% and the 50-Day Moving Average is 4.25%.The 200 Day SMA reached 13.14%. Cadence Design Systems Inc. is up 4.14% in the last 3-month period. Year-to-Date the stock performance stands at 24.51%.
Cadence Design Systems (NASDAQ:CDNS): After opening at $25.65, the stock dipped to an intraday low of $25.65 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $25.95 and the buying power remained strong till the end. The stock closed at $25.91 for the day, a gain of 1.57% for the day session. The total traded volume was 1,493,889. The stocks close on the previous trading day was $25.51.
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.