New Millennium Group LLC Raises Stock Holdings in Cadence Design Systems, Inc. $CDNS

New Millennium Group LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12,965.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,402 shares of the software maker’s stock after acquiring an additional 6,353 shares during the period. Cadence Design Systems comprises 1.0% of New Millennium Group LLC’s portfolio, making the stock its 27th biggest position. New Millennium Group LLC’s holdings in Cadence Design Systems were worth $2,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Cadence Design Systems during the second quarter worth $1,190,618,000. Massachusetts Financial Services Co. MA increased its stake in Cadence Design Systems by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after buying an additional 731,788 shares during the period. Voya Investment Management LLC lifted its holdings in Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after buying an additional 622,934 shares in the last quarter. Scge Management L.P. purchased a new stake in Cadence Design Systems in the 2nd quarter valued at about $187,663,000. Finally, Bain Capital Public Equity Management II LLC bought a new position in Cadence Design Systems in the 2nd quarter worth about $130,534,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the sale, the chief executive officer owned 195,844 shares in the company, valued at approximately $66,586,960. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total value of $295,090.00. Following the transaction, the vice president owned 95,137 shares in the company, valued at approximately $28,073,977.33. This trade represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,475 shares of company stock valued at $18,505,486 over the last three months. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $296.59 on Friday. The stock’s 50-day moving average is $308.44 and its 200 day moving average is $328.50. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.86 and a quick ratio of 2.84. The company has a market cap of $80.73 billion, a P/E ratio of 73.05, a PEG ratio of 3.39 and a beta of 1.01.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDNS. Morgan Stanley decreased their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a research report on Wednesday. Wells Fargo & Company cut their price target on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Robert W. Baird increased their target price on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $376.50.

Cadence Design Systems News Summary

Here are the key news stories impacting Cadence Design Systems this week:

• Positive Sentiment: Q4 results beat and bullish guidance — Cadence reported $1.44B revenue and $1.99 adjusted EPS, topped estimates, raised margin/free?cash flow expectations and gave solid FY/Q1 EPS guidance; management emphasized AI products and a record $7.8B backlog, boosting confidence in near?term revenue visibility. Cadence Stock Earnings & AI Chip Story
• Positive Sentiment: AI product momentum — launch of ChipStack AI Super Agent and continued traction for Cerebrus (agentic AI for chip design) underpin the narrative that Cadence can capture outsized value from customers optimizing chip PPA, a key structural growth thesis. ChipStack AI Super Agent Coverage
• Positive Sentiment: Broker upgrades and bullish reiterations — Rosenblatt upgraded CDNS to Buy (raised target to $360) and Needham reaffirmed Buy with a $390 target; Bank of America also remains bullish with a $400 target, lending credibility to the upside case. Rosenblatt Upgrade Needham Reaffirmation
• Neutral Sentiment: Morgan Stanley trimmed its price target (from $385 to $370) but kept an Overweight rating — a modest pullback in target that still signals confidence in upside, so it’s more nuance than a bearish signal. Morgan Stanley Adjustment
• Neutral Sentiment: Piper Sandler cut its target (to $319) and set Neutral — another recalibration after earnings that reduces some near?term upside from certain desks but doesn’t overturn the AI/backlog story. Piper Sandler Target Cut
• Negative Sentiment: Unusual bearish options activity — traders bought a large volume of put options around the print (and reported spikes in put open interest), which could increase downside pressure or volatility if sellers hedge/loan stock. Put Options Activity
• Neutral Sentiment: Short interest data reported odd/zero figures for mid?February (likely a reporting artifact) — not a reliable signal this cycle but worth watching if actual short positions rise. (No definitive link available.)

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.