Keysight Technologies (NYSE:KEYS) posted its earnings results on Wednesday. The scientific and technical instruments company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.22, Morningstar.com reports. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Keysight Technologies had a return on equity of 29.49% and a net margin of 7.38%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. Keysight Technologies updated its Q4 2019 guidance to $1.14-1.20 EPS.
KEYS stock opened at $93.18 on Friday. The company has a market cap of $16.77 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.30 and a beta of 1.31. Keysight Technologies has a 1 year low of $53.21 and a 1 year high of $101.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.90 and a quick ratio of 1.46. The stock’s fifty day moving average price is $88.97 and its 200-day moving average price is $85.48.
Keysight Technologies declared that its board has initiated a share buyback program on Wednesday, May 29th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEYS. Nuveen Asset Management LLC lifted its position in Keysight Technologies by 23,251.3% during the second quarter. Nuveen Asset Management LLC now owns 3,064,396 shares of the scientific and technical instruments company’s stock valued at $275,214,000 after purchasing an additional 3,051,273 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Keysight Technologies by 75.7% during the second quarter. JPMorgan Chase & Co. now owns 4,754,203 shares of the scientific and technical instruments company’s stock valued at $414,185,000 after purchasing an additional 2,048,611 shares in the last quarter. BlackRock Inc. lifted its position in Keysight Technologies by 14.0% during the first quarter. BlackRock Inc. now owns 14,460,516 shares of the scientific and technical instruments company’s stock valued at $1,260,956,000 after purchasing an additional 1,780,298 shares in the last quarter. Geode Capital Management LLC lifted its position in Keysight Technologies by 48.2% during the fourth quarter. Geode Capital Management LLC now owns 2,678,128 shares of the scientific and technical instruments company’s stock valued at $165,994,000 after purchasing an additional 871,373 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Keysight Technologies by 208.6% during the second quarter. Janus Henderson Group PLC now owns 1,167,440 shares of the scientific and technical instruments company’s stock valued at $104,848,000 after purchasing an additional 789,128 shares in the last quarter. Institutional investors own 87.50% of the company’s stock.
A number of research firms have commented on KEYS. Deutsche Bank reissued a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Keysight Technologies in a report on Thursday. Citigroup set a $100.00 target price on Keysight Technologies and gave the stock a “buy” rating in a report on Friday, August 16th. Robert W. Baird raised Keysight Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $82.00 to $100.00 in a report on Thursday. Credit Suisse Group reissued an “outperform” rating and issued a $110.00 target price (up previously from $90.00) on shares of Keysight Technologies in a report on Thursday. Finally, Zacks Investment Research raised Keysight Technologies from a “hold” rating to a “strong-buy” rating and set a $78.00 target price for the company in a report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Keysight Technologies currently has an average rating of “Buy” and an average price target of $99.11.
About Keysight Technologies
Keysight Technologies, Inc provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, and electronic industries in the Americas and the Asia Pacific. Its Communications Solutions Group segment provides radio frequency and microwave test instruments, and electronic design automation software tools; oscilloscopes, logic and serial protocol analyzers, logic-signal sources, arbitrary waveform generators, and bit error rate testers; optical modulation analyzers, component analyzers, power meters, and optical laser source solutions, as well as optical amplifier, filter, and other passive component solutions; and related software solutions.
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