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Cadence Design Systems Inc (CDNS) Stock: What Does the Chart Say Wednesday?

Wednesday, November 17, 2021 12:52 PM | InvestorsObserver Analysts

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Cadence Design Systems Inc (CDNS) Stock: What Does the Chart Say Wednesday?

Overall market sentiment has been high on Cadence Design Systems Inc (CDNS) stock lately. CDNS receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
Cadence Design Systems Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on CDNS!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With CDNS Stock Today?

Cadence Design Systems Inc (CDNS) stock has gained 0.43% while the S&P 500 has fallen -0.25% as of 12:43 PM on Wednesday, Nov 17. CDNS has gained $0.80 from the previous closing price of $186.92 on volume of 440,593 shares. Over the past year the S&P 500 is higher by 29.28% while CDNS has gained 63.43%. CDNS earned $2.48 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 75.75. To screen for more stocks like Cadence Design Systems Inc click here.

More About Cadence Design Systems Inc

Cadence Design Systems was founded in 1988 after the merger of ECAD and SDA Systems. Cadence is known as an electronic design automation, or EDA, firm that specializes in developing software, hardware, and intellectual property that automates the design and verification of integrated circuits or larger chip systems. Historically, semiconductor firms have relied on the firm's tools, but there has been a shift toward other nontraditional "systems" users given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing. Cadence is headquartered in Silicon Valley, has approximately 8,100 employees worldwide, and was added to the S&P 500 in late 2017. Click Here to get the full Stock Report for Cadence Design Systems Inc stock.

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