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Cadence Design Systems: 52-Week High Recently Eclipsed (CDNS)

By James Quinn

Cadence Design Systems (NASDAQ:CDNS) traded at a new 52-week high today of $33.73. So far today approximately 184,000 shares have been exchanged, as compared to an average 30-day volume of 2.5 million shares.

Cadence Design Systems (NASDAQ:CDNS) is currently priced 13.4% above its average consensus analyst price target of $29.00. Cadence Design Systems shares have support at the 50-day moving average (MA) of $23.00 and additional support at the 200-day MA of $21.41.

Cadence Design Systems, Inc. provides software technology, design and consulting services and technology. The Company licenses its electronic design automation software technology and provides a variety of professional services. Cadence's design realization solutions are used to design and develop complex chips and electronic systems, including semiconductors.

In the past 52 weeks, shares of Cadence Design Systems have traded between a low of $18.13 and a high of $33.73 and are now at $33.49, which is 85% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Cadence Design Systems on February 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.72. Since that recommendation, shares of Cadence Design Systems have risen 20.9%. We continue to monitor CDNS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows cadence design systems

Ticker(s): CDNS