CDNS

-3.9%🔴 Potential overreaction

Cadence Design Systems · Technology

$334.81Vol 1.45M · 0.6× normalMkt cap −$3.75Bafter · 2026-10-13 ET

What happened

Move

-3.9%

Price

$334.81

Volume

1.45M

0.6× normal

Market cap

$92.20B

−$3.75B today

Why it moved

No clear catalyst identified

No reliable news, earnings or analyst driver was found for this move. A move this size without an obvious driver is most likely flow/positioning-driven rather than a fundamentals story.

Additional context: CDNS dropped 3.74% on low volume of 0.6x normal amidst broader tech sector headwinds.

Verdict — was the move justified?

🔴 Potential overreaction

A 2.6σ move well beyond the sector with no identified fundamental or news driver — the reaction appears larger than currently visible evidence justifies. Likely flow/positioning-driven.

How unusual is this move

σ score

2.6σ

vs own 20d volatility

Percentile

92th

of 1275 daily moves

Avg daily move

±1.7%

own 5y average

vs sector

-3.9%

beyond sector median

Today’s move is among the largest 8% of CDNS’s daily moves over the last 5 years — while the sector moved +0.0% and the market +0.1%.

What happened after similar moves

99 similar down moves in CDNS’s 5-year history:

After 5 days

+0.7%

57% higher

After 20 days

+3.4%

72% higher

Median of same-direction moves within ±35% magnitude band. Past patterns don’t predict outcomes — context, not signal.

Fundamental context

V 22G 85P 90H 88Q 92EW 32/65

Insider activity (90d): net selling $997.6K

Valuation context

P/E (TTM)

69.6

5y median 72.0

P/E percentile

41%

vs own 5y history

FCF yield

0.0%

Valuation sits near the middle of its own historical range (41th percentile).

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