Zacks Investment Research cut shares of Keysight Technologies (NYSE:KEYS) from a buy rating to a hold rating in a report released on Saturday morning.
According to Zacks, “Keysight Technologies, Inc. is an Applied Technology company that provides electronic measurement solutions to the communications and electronics industries. It provides electronic measurement instruments and systems and related software, software design tools, and related services that are used in the design, development, manufacture, installation, deployment, and operation of electronics equipment. The Company provides start-up assistance, consulting, optimization and application support throughout the customer’s product lifecycle. It also offers customization, consulting and optimization services throughout the customer’s product lifecycle. Keysight Technologies, Inc. is headquartered in Santa Rosa, California. “
KEYS has been the subject of a number of other research reports. Credit Suisse Group reaffirmed an outperform rating and set a $54.00 price objective (up previously from $49.50) on shares of Keysight Technologies in a research note on Friday, March 2nd. Robert W. Baird reaffirmed an outperform rating and set a $52.00 price objective (up previously from $50.00) on shares of Keysight Technologies in a research note on Friday, March 2nd. Stifel Nicolaus reaffirmed a hold rating on shares of Keysight Technologies in a research note on Friday, March 2nd. Barclays upped their price objective on shares of Keysight Technologies from $53.00 to $56.00 and gave the company an overweight rating in a research note on Wednesday, March 7th. Finally, Citigroup upped their price objective on shares of Keysight Technologies from $55.00 to $62.00 and gave the company a buy rating in a research note on Friday, March 9th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $55.50.
Keysight Technologies (NYSE:KEYS) last posted its quarterly earnings data on Thursday, March 1st. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.19. Keysight Technologies had a net margin of 2.64% and a return on equity of 18.19%. The company had revenue of $837.00 million during the quarter, compared to the consensus estimate of $805.96 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. sell-side analysts forecast that Keysight Technologies will post 2.69 earnings per share for the current year.
Keysight Technologies announced that its Board of Directors has initiated a share buyback program on Tuesday, March 6th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, SVP Stephen D. Williams sold 12,296 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $41.79, for a total transaction of $513,849.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ronald S. Nersesian sold 162,366 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.04, for a total value of $7,312,964.64. Following the sale, the insider now owns 517,674 shares of the company’s stock, valued at approximately $23,316,036.96. The disclosure for this sale can be found here. Insiders have sold a total of 209,465 shares of company stock valued at $9,659,192 in the last quarter. Company insiders own 0.97% of the company’s stock.
Large investors have recently modified their holdings of the company. Invictus RG purchased a new stake in shares of Keysight Technologies during the 3rd quarter worth about $111,000. SeaCrest Wealth Management LLC purchased a new position in Keysight Technologies in the 4th quarter worth approximately $121,000. Cerebellum GP LLC purchased a new position in Keysight Technologies in the 4th quarter worth approximately $125,000. Robeco Institutional Asset Management B.V. purchased a new position in Keysight Technologies in the 4th quarter worth approximately $168,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Keysight Technologies in the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 88.66% of the company’s stock.
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About Keysight Technologies
Keysight Technologies, Inc is a measurement company engaged in providing electronic design and test solutions to communications and electronics industries. The Company provides electronic design and test instruments and systems and related software, software design tools and related services that are used in the design, development, manufacture, installation, deployment and operation of electronics equipment.
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