Zacks Investment Research downgraded shares of Keysight Technologies (NYSE:KEYS) from a buy rating to a hold rating in a research report released on Saturday.
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. “
A number of other research analysts also recently issued reports on the company. Stifel Nicolaus reiterated a hold rating and set a $43.00 price objective on shares of Keysight Technologies in a research note on Friday, December 8th. Deutsche Bank boosted their price objective on Keysight Technologies to $55.00 and gave the company a buy rating in a research note on Monday, January 29th. ValuEngine upgraded Keysight Technologies from a hold rating to a buy rating in a research note on Thursday, March 1st. Credit Suisse Group reiterated an outperform rating and set a $54.00 price objective (up from $49.50) on shares of Keysight Technologies in a research note on Friday, March 2nd. Finally, Barclays set a $53.00 price objective on Keysight Technologies and gave the company a buy rating in a research note on Sunday, March 4th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Keysight Technologies currently has an average rating of Buy and an average target price of $55.50.
Keysight Technologies (NYSE:KEYS) last announced its quarterly earnings data on Thursday, March 1st. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.19. The company had revenue of $837.00 million during the quarter, compared to the consensus estimate of $805.96 million. Keysight Technologies had a return on equity of 18.19% and a net margin of 2.64%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. research analysts predict that Keysight Technologies will post 2.69 EPS for the current year.
Keysight Technologies declared that its board has authorized a stock buyback program on Tuesday, March 6th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other Keysight Technologies news, SVP Mark Adam Wallace sold 34,803 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $52.65, for a total value of $1,832,377.95. Following the completion of the transaction, the senior vice president now directly owns 171,187 shares in the company, valued at approximately $9,012,995.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald S. Nersesian sold 162,366 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 517,674 shares of the company’s stock, valued at $23,316,036.96. The disclosure for this sale can be found here. Insiders sold a total of 219,308 shares of company stock valued at $10,072,992 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Invictus RG bought a new position in Keysight Technologies in the 3rd quarter worth approximately $111,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Keysight Technologies during the 4th quarter worth approximately $121,000. Cerebellum GP LLC purchased a new stake in shares of Keysight Technologies during the 4th quarter worth approximately $125,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Keysight Technologies during the 4th quarter worth approximately $168,000. Finally, Financial Counselors Inc. purchased a new stake in shares of Keysight Technologies during the 3rd quarter worth approximately $210,000. Institutional investors and hedge funds own 88.91% 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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