New Millennium Group LLC Sells 6,120 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• New Millennium Group LLC sharply reduced its Cadence Design Systems stake by 95.6% in the fourth quarter, selling 6,120 shares and leaving it with just 282 shares valued at about $88,000.
• Cadence reported better-than-expected Q1 results, with EPS of $1.96 on revenue of $1.47 billion, and raised guidance for FY2026 and Q2 2026.
• Analysts remain largely bullish on CDNS, with multiple firms raising price targets and the stock carrying a consensus rating of Moderate Buy with an average target price of $380.59.

New Millennium Group LLC cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 95.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 282 shares of the software maker's stock after selling 6,120 shares during the quarter. New Millennium Group LLC's holdings in Cadence Design Systems were worth $88,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Brighton Jones LLC boosted its stake in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after acquiring an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in Cadence Design Systems in the second quarter worth $205,000. NewEdge Advisors LLC raised its holdings in Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock worth $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co acquired a new stake in Cadence Design Systems in the second quarter worth $226,000. 84.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDNS has been the topic of several analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. KeyCorp increased their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Morgan Stanley cut their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Robert W. Baird increased their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $375.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average price target of $380.59.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $373.59 on Friday. The company has a market capitalization of $103.04 billion, a price-to-earnings ratio of 87.08, a PEG ratio of 4.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The company has a 50-day simple moving average of $312.73 and a 200 day simple moving average of $311.18. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $381.55.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. Cadence Design Systems's revenue was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total value of $53,105.40. Following the completion of the sale, the director owned 7,470 shares in the company, valued at $2,203,874.10. The trade was a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Scannell sold 1,071 shares of Cadence Design Systems stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $345.06, for a total transaction of $369,559.26. Following the completion of the sale, the vice president owned 32,181 shares of the company's stock, valued at $11,104,375.86. This trade represents a 3.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,251 shares of company stock worth $13,294,350 over the last quarter. Company insiders own 0.49% of the company's stock.

About Cadence Design Systems

Cadence Design Systems, Inc NASDAQ: CDNS is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company's offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.

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