Cadence Design Systems Slides 2.55% on $510M Volume as Tech Sector Downturn Pushes It 202nd in U.S. Stock Liquidity Rankings

Cadence Design Systems (CDNS) closed on Sept. 24, 2025, with a 2.55% decline, trading on $510 million in volume that ranked it 202nd among U.S. stocks by liquidity. The drop followed a muted performance in key semiconductor design tools segments, with no material earnings or strategic updates reported during the session. Analysts noted the move aligned with broader sector underperformance amid cautious investor sentiment toward extended technology cycles.

Market participants focused on evolving dynamics in EDA (electronic design automation) software demand, though no new client contracts or product launches were announced. The stock’s intraday trajectory reflected mixed technical indicators, with short-term momentum indicators showing oversold conditions but lacking clear reversal signals. Positioning data revealed reduced institutional ownership in the prior quarter, potentially amplifying price volatility in lower-liquidity environments.

To set up and run this back-test accurately, several practical details require clarification: Universe definition (U.S.-listed common stocks scope, inclusion/exclusion of ADRs, ETFs, and penny stocks); weighting methodology (equal-weight vs. volume-weighted); execution mechanics (intraday timing, slippage assumptions); and benchmark comparisons (SPY, equal-weighted indices). These parameters will determine data retrieval protocols, daily portfolio construction, and final performance metrics.