Keysight Technologies (NYSE:KEYS) to Repurchase $1.50 billion in Outstanding Stock

Keysight Technologies (NYSE:KEYS) declared that its Board of Directors has initiated a share buyback program on Monday, November 24th, RTT News reports. The company plans to buyback $1.50 billion in shares. This buyback authorization allows the scientific and technical instruments company to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Keysight Technologies Stock Up 3.0%

NYSE KEYS opened at $177.87 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.59 and a quick ratio of 2.94. The company’s 50 day simple moving average is $173.64 and its 200 day simple moving average is $167.01. Keysight Technologies has a 12 month low of $121.43 and a 12 month high of $187.67. The company has a market capitalization of $30.57 billion, a P/E ratio of 56.65, a PEG ratio of 2.38 and a beta of 1.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen lowered Keysight Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Barclays lowered their target price on shares of Keysight Technologies from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Citigroup began coverage on shares of Keysight Technologies in a research report on Friday, November 14th. They set a “buy” rating and a $215.00 price target on the stock. Jefferies Financial Group began coverage on shares of Keysight Technologies in a report on Monday, October 27th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Keysight Technologies from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $196.00.

Insider Transactions at Keysight Technologies

In other Keysight Technologies news, SVP Ingrid A. Estrada sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $173.98, for a total value of $347,960.00. Following the transaction, the senior vice president owned 106,590 shares of the company’s stock, valued at approximately $18,544,528.20. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Keysight Technologies Company Profile

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.