Short interest is the number of shares that have been sold short but have not yet been covered or closed out. An increase in short interest can signal that investors have become more bearish, while a decrease can signal they have become more bullish. In this case, the rise in short interest could indicate a bearish sentiment among investors. However, the fact that Cadence Design Sys has less short interest than most of its peers could be a positive sign, indicating less negative sentiment towards the company compared to its peers.