Keysight Technologies ( NYSE:KEYS ) rose on strong earnings

VaselineAugust 21, 2024

0 4 minutes read

Shares of Keysight Technologies, Inc. ( NYSE:KEYS – Get Your Free Report ) were lower before the market opened on Wednesday after the company reported better-than-expected quarterly earnings. The stock had previously closed at $138.57 but opened at $156.55. Shares of Keysight Technologies last traded at $155.04 with a volume of 654,769 shares.

The scientific and technical instruments company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.22. Keysight Technologies had a return on equity of 23.79% and a net margin of 15.70%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. In the same quarter last year, the company posted earnings of $2.04 per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year.

Analysts set new price targets

A number of research firms have weighed in on Keys. Susquehanna cut their price target on Keysight Technologies from $195.00 to $185.00 and set a “positive” rating for the company in a research report on Wednesday. Robert W. Baird cut their price target on shares of Keysight Technologies from $167.00 to $160.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company reissued an “overweight” rating and set a $180.00 target price on shares of Keysight Technologies in a research note on Wednesday. Barclays raised their target price on shares of Keysight Technologies from $141.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 21st. Finally, Vertical Research began coverage on Keysight Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $175.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.30, according to MarketBeat .

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Insiders place their bets

In other news, Director Kevin A. Stephens bought 460 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $143.35 per share, with a total value of $65,941.00. Following the transaction, the director now directly owns 7,681 shares in the company, valued at $1,101,071.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In related news, Director Kevin A. Stephens acquired 460 shares of the stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of $143.35 per share, for a total transaction of $65,941.00. Following the completion of the acquisition, the director now owns 7,681 shares in the company, valued at approximately $1,101,071.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, VP Lisa M. Poole sold 440 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $136.45, for a total transaction of $60,038.00. Following the transaction, the vice president now owns 3,913 shares of the company’s stock, valued at $533,928.85. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s shares.

Keysight Technologies Institutional Trading

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swedbank AB raised its position in Keysight Technologies by 3.8% in the second quarter. Swedbank AB now owns 4,128,892 shares of the scientific and technical instruments company’s stock worth $564,626,000 after purchasing an additional 151,446 shares in the last quarter. Jennison Associates LLC boosted its stake in Keysight Technologies by 53.2% in the first quarter. Jennison Associates LLC now owns 3,811,605 shares of the scientific and technical instruments company’s stock valued at $596,059,000 after purchasing an additional 1,323,775 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Keysight Technologies by 352.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,160,879 shares of the scientific and technical instruments company’s stock worth $494,299,000 after purchasing an additional 2,462,543 shares during the last quarter. Van ECK Associates Corp raised its stake in Keysight Technologies by 105.5% during the fourth quarter. Van ECK Associates Corp now owns 2,383,143 shares of the scientific and technical instruments company’s stock worth $379,134,000 after purchasing an additional 1,223,694 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Keysight Technologies during the fourth quarter valued at about $303,444,000. 84.58% of shares are currently owned by institutional investors.

Keysight Technologies stock up 11.9%

The company has a market cap of $27.06 billion, a P/E ratio of 34.10, a PEG ratio of 4.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.99, and a quick ratio of 1.48. The company’s 50-day moving average price is $135.32 and its 200-day moving average price is $145.34.

About Keysight Technologies

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Keysight Technologies, Inc provides electronic design and test solutions for commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronics and education in the Americas, Europe and Asia Pacific. The company operates in two segments, Communications Solutions Group and Electronic Industrial Solutions Group.