Keysight Technologies (NYSE:KEYS) Issues Earnings Results, Beats Estimates By $0.59 EPS

Keysight Technologies (NYSE:KEYS) posted its earnings results on Tuesday. The scientific and technical instruments company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.59, FiscalAI reports. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Keysight Technologies had a return on equity of 21.58% and a net margin of 17.25%.

Keysight Technologies Price Performance

Shares of Keysight Technologies stock traded down $19.80 during trading on Tuesday, hitting $341.35. The stock had a trading volume of 2,571,534 shares, compared to its average volume of 1,437,093. The business has a fifty day moving average of $333.92 and a two-hundred day moving average of $313.09. Keysight Technologies has a fifty-two week low of $152.85 and a fifty-two week high of $374.96. The firm has a market cap of $58.34 billion, a P/E ratio of 56.14, a PEG ratio of 2.04 and a beta of 1.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.90 and a quick ratio of 1.51.

Wall Street Analysts Forecast Growth

KEYS has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Keysight Technologies from $320.00 to $396.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price objective on Keysight Technologies from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Morgan Stanley increased their price objective on Keysight Technologies from $305.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. UBS Group boosted their price target on Keysight Technologies from $340.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Susquehanna increased their price target on Keysight Technologies from $415.00 to $425.00 and gave the stock a “positive” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Keysight Technologies has an average rating of “Moderate Buy” and an average target price of $371.92.

Insiders Place Their Bets

In other news, Director James Cullen sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $346.58, for a total transaction of $1,039,740.00. Following the completion of the sale, the director directly owned 21,821 shares of the company’s stock, valued at $7,562,722.18. This trade represents a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Satish Dhanasekaran sold 507 shares of Keysight Technologies stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $361.32, for a total value of $183,189.24. Following the completion of the transaction, the chief executive officer directly owned 121,391 shares in the company, valued at $43,860,996.12. This represents a 0.42% 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. Over the last three months, insiders have sold 5,507 shares of company stock worth $1,904,669. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Keysight Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Keysight Technologies in the fourth quarter valued at $25,000. DV Equities LLC purchased a new position in shares of Keysight Technologies during the fourth quarter valued at $49,000. Atlas Capital Advisors Inc. acquired a new position in Keysight Technologies during the fourth quarter valued at $57,000. Geneos Wealth Management Inc. raised its position in Keysight Technologies by 66.5% during the first quarter. Geneos Wealth Management Inc. now owns 393 shares of the scientific and technical instruments company’s stock valued at $59,000 after buying an additional 157 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Keysight Technologies in the 2nd quarter worth about $71,000. Institutional investors and hedge funds own 84.58% of the company’s stock.

About Keysight Technologies

Keysight Technologies is a global provider of electronic design, test, measurement and optimization solutions for communications, electronics and related industries. The company was formed as a corporate spin-off from Agilent Technologies in 2014; its origins trace back to the electronic measurement business that was part of Hewlett?Packard before Agilent. Keysight develops hardware and software used throughout the product development lifecycle, from design and simulation to prototype validation and manufacturing test.

Keysight’s product portfolio includes electronic test and measurement instruments such as oscilloscopes, network and spectrum analyzers, signal generators, vector network analyzers and modular PXI-based systems, together with software platforms for simulation, automated test and data analysis.