Keysight Technologies (NYSE:KEYS) Shares Gap Up After Earnings Beat

Keysight Technologies, Inc. (NYSE:KEYS)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $162.80, but opened at $171.60. Keysight Technologies shares last traded at $172.22, with a volume of 311,203 shares traded.

The scientific and technical instruments company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. Keysight Technologies had a return on equity of 19.22% and a net margin of 12.32%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $1.41 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Robert W. Baird raised their price target on Keysight Technologies from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Wells Fargo & Company raised their price target on Keysight Technologies from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Keysight Technologies from $172.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley raised their price target on Keysight Technologies from $156.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, StockNews.com cut Keysight Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 22nd. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.89.

Insider Activity

In related news, CFO Neil Dougherty sold 3,632 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $155.00, for a total transaction of $562,960.00. Following the completion of the sale, the chief financial officer now directly owns 115,063 shares of the company’s stock, valued at approximately $17,834,765. This trade represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Keysight Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in shares of Keysight Technologies by 8.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 27,694 shares of the scientific and technical instruments company’s stock worth $4,448,000 after acquiring an additional 2,260 shares during the last quarter. Geode Capital Management LLC increased its holdings in Keysight Technologies by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,417,248 shares of the scientific and technical instruments company’s stock worth $708,349,000 after purchasing an additional 17,213 shares during the period. PNC Financial Services Group Inc. increased its holdings in Keysight Technologies by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 55,379 shares of the scientific and technical instruments company’s stock worth $8,896,000 after purchasing an additional 1,755 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Keysight Technologies by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,567 shares of the scientific and technical instruments company’s stock worth $3,018,000 after purchasing an additional 3,857 shares during the period. Finally, Portfolio Design Labs LLC increased its holdings in Keysight Technologies by 17.7% during the 4th quarter. Portfolio Design Labs LLC now owns 15,554 shares of the scientific and technical instruments company’s stock worth $2,498,000 after purchasing an additional 2,336 shares during the period. 84.58% of the stock is owned by institutional investors.

Keysight Technologies Price Performance

The firm has a fifty day simple moving average of $147.22 and a 200 day simple moving average of $159.65. The company has a market capitalization of $28.08 billion, a PE ratio of 46.43, a P/E/G ratio of 2.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.27 and a current ratio of 2.98.

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.