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Cadence Design Systems: The Winning Streak Continues (CDNS)

By David Diaz

Cadence Design Systems (NASDAQ:CDNS) traded at a new 52-week high today of $25.86. So far today approximately 249,000 shares have been exchanged, as compared to an average 30-day volume of 2.5 million shares.

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.

Cadence Design Systems (NASDAQ:CDNS) is currently priced 6.4% above its average consensus analyst price target of $24.19. 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 share prices have moved between a 52-week high of $25.86 and a 52-week low of $18.13 and are now trading 42% above that low price at $25.83 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Cadence Design Systems on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.83. Since that recommendation, shares of Cadence Design Systems have risen 23.2%. 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