New Millennium Group LLC Has $88,000 Position in Cadence Design Systems, Inc. $CDNS

New Millennium Group LLC trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 95.6% in the fourth quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Y.D. More Investments Ltd bought a new stake in Cadence Design Systems during the 3rd quarter worth approximately $26,000. Caitlin John LLC bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $29,000. Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $31,000. Lodestone Wealth Management LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at $30,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $35,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CDNS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research note on Friday, April 24th. 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 research note on Tuesday, April 28th. Piper Sandler increased their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Finally, Citigroup increased their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $380.59.

Cadence Design Systems Stock Up 4.2%

Shares of NASDAQ CDNS opened at $373.59 on Friday. The firm has a market cap of $103.04 billion, a PE ratio of 87.08, a P/E/G ratio of 4.24 and a beta of 1.13. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $381.55. The company’s fifty day simple moving average is $312.73 and its 200 day simple moving average is $311.18. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. 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. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $337.49, for a total value of $337,490.00. Following the completion of the sale, the vice president owned 127,586 shares in the company, valued at $43,058,999.14. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 5,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the transaction, the chief financial officer owned 81,875 shares of the company’s stock, valued at approximately $28,550,631.25. The trade was a 5.76% 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. In the last three months, insiders have sold 41,251 shares of company stock worth $13,294,350. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Company Profile

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.