Keysight Technologies (NYSE:KEYS) Upgraded to Buy at Zacks Investment Research

Keysight Technologies (NYSE:KEYS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The brokerage currently has a $210.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 5.18% from the stock’s current price.

According to Zacks, “Keysight is benefiting from a strong portfolio. The company is well-positioned to gain from solid demand for semiconductor measurement solutions, as semiconductor companies are increasingly developing chips based on next-generation process technologies. Accelerated 5G deployments, 6G-related research applications and higher investments in 400G/ 800G ethernet for data centers bode well. The company is also expected to benefit from investments in defense technology modernization across all main regions. Nevertheless, coronavirus crisis-induced supply chain disruptions, forex volatility due to sizeable international exposure and increasing operating expenses are major concerns. Further, uncertainties related to the trade war with China are likely to remain an overhang. Shares have underperformed the industry in the year-to-date period.”

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group increased their price objective on Keysight Technologies from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday. Susquehanna Bancshares increased their price objective on Keysight Technologies from $178.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, August 19th. Susquehanna reissued a “buy” rating on shares of Keysight Technologies in a research report on Monday. Credit Suisse Group increased their target price on Keysight Technologies from $175.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays increased their target price on Keysight Technologies from $162.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 19th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $195.00.

NYSE KEYS traded up $4.37 during trading on Thursday, reaching $199.66. The company’s stock had a trading volume of 1,779,684 shares, compared to its average volume of 999,157. The firm has a fifty day moving average of $177.59 and a 200 day moving average of $164.77. Keysight Technologies has a one year low of $117.12 and a one year high of $200.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.19 and a quick ratio of 2.55. The stock has a market capitalization of $36.78 billion, a PE ratio of 45.17, a P/E/G ratio of 2.69 and a beta of 0.99.

Keysight Technologies (NYSE:KEYS) last issued its earnings results on Monday, November 22nd. The scientific and technical instruments company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.18. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Keysight Technologies had a return on equity of 29.41% and a net margin of 17.03%. Keysight Technologies’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. Research analysts expect that Keysight Technologies will post 5.55 earnings per share for the current fiscal year.

Keysight Technologies announced that its Board of Directors has initiated a stock buyback program on Monday, November 22nd that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

In other Keysight Technologies news, SVP Huei Sin Ee sold 8,256 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $180.79, for a total transaction of $1,492,602.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Several large investors have recently made changes to their positions in the business. EP Wealth Advisors LLC boosted its holdings in shares of Keysight Technologies by 5.1% in the third quarter. EP Wealth Advisors LLC now owns 258,389 shares of the scientific and technical instruments company’s stock valued at $42,451,000 after purchasing an additional 12,461 shares during the period. American International Group Inc. boosted its holdings in shares of Keysight Technologies by 0.4% in the third quarter. American International Group Inc. now owns 61,913 shares of the scientific and technical instruments company’s stock valued at $10,172,000 after purchasing an additional 268 shares during the period. Gyon Technologies Capital Management LP purchased a new stake in shares of Keysight Technologies in the third quarter valued at approximately $357,000. National Pension Service boosted its holdings in shares of Keysight Technologies by 1.2% in the third quarter. National Pension Service now owns 282,572 shares of the scientific and technical instruments company’s stock valued at $46,424,000 after purchasing an additional 3,463 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Keysight Technologies in the third quarter valued at approximately $791,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Keysight Technologies Company Profile

Keysight Technologies, Inc engages in the provision of electronic design and test solutions that are used in the design, development, manufacture, installation, deployment, validation, optimization and secure operation of electronics systems to communications, networking and electronics industries. It operates through the following segments: Communications Solutions Group, and Electronic Industrial Solutions Group.

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