Keysight Technologies (NYSE:KEYS) Shares Gap Up on Strong Earnings

Keysight Technologies, Inc. (NYSE:KEYS)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $138.57, but opened at $156.55. Keysight Technologies shares 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 net margin of 15.70% and a return on equity of 23.79%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $2.04 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis.

Analyst Ratings Changes

KEYS has been the subject of a number of analyst reports. Robert W. Baird dropped their target price on shares of Keysight Technologies from $167.00 to $160.00 and set an “outperform” rating for the company in a report on Monday. Bank of America increased their price objective on Keysight Technologies from $135.00 to $150.00 and gave the stock an “underperform” rating in a report on Wednesday. Barclays boosted their target price on Keysight Technologies from $141.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. Vertical Research started coverage on Keysight Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $175.00 price target for the company. Finally, Susquehanna reduced their price objective on shares of Keysight Technologies from $195.00 to $185.00 and set a “positive” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Keysight Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $166.30.

Insider Buying and Selling

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

Institutional Investors Weigh In On Keysight Technologies

Several institutional investors have recently modified their holdings of the business. Hershey Financial Advisers LLC purchased a new stake in shares of Keysight Technologies during the 2nd quarter valued at about $86,000. EP Wealth Advisors LLC lifted its position in Keysight Technologies by 4.6% during the second quarter. EP Wealth Advisors LLC now owns 355,708 shares of the scientific and technical instruments company’s stock valued at $48,643,000 after purchasing an additional 15,693 shares during the period. Wellington Wealth Strategies LLC. purchased a new stake in Keysight Technologies in the second quarter worth approximately $204,000. Northwestern Mutual Wealth Management Co. grew its position in Keysight Technologies by 31.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,287 shares of the scientific and technical instruments company’s stock worth $313,000 after purchasing an additional 548 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Keysight Technologies by 16.9% during the 2nd quarter. NewEdge Advisors LLC now owns 8,882 shares of the scientific and technical instruments company’s stock valued at $1,215,000 after buying an additional 1,284 shares during the last quarter. 84.58% of the stock is owned by hedge funds and other institutional investors.

Keysight Technologies Price Performance

The stock has a market capitalization of $26.99 billion, a P/E ratio of 33.69, a PEG ratio of 4.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.48 and a current ratio of 1.99. The firm has a fifty day moving average price of $136.05 and a two-hundred day moving average price of $145.49.

About Keysight Technologies

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