A cascode circuit for a high-gain or high-output millimeter-wave device that operates with stability. The cascode circuit including two cascode-connected transistors includes: a first high electron mobility transistor (HEMT) including a source that is grounded; a second HEMT including a source connected to a drain of the first HEMT; a reflection gain restricting resistance connected to the gate of the second HEMT, for restricting reflection gain; and an open stub connected to a side of the reflection gain restricting resistance which is opposite the side connected to the second HEMT, for short-circuiting high-frequency signals at a predetermined frequency and nearby frequencies.