Keysight (KEYS) PT Raised to $62.00 at Citigroup

Keysight (NYSE:KEYS) had its target price upped by Citigroup from $55.00 to $62.00 in a research note published on Friday, March 9th. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Several other analysts also recently issued reports on the stock. Jefferies Group reaffirmed a buy rating and set a $62.00 price objective on shares of Keysight in a report on Wednesday, March 7th. They noted that the move was a valuation call. Barclays upped their price objective on shares of Keysight from $53.00 to $56.00 and gave the stock an overweight rating in a report on Wednesday, March 7th. Robert W. Baird reaffirmed an outperform rating and set a $60.00 price objective (up from $52.00) on shares of Keysight in a report on Thursday, March 8th. Stifel Nicolaus reaffirmed a hold rating and set a $43.00 price objective on shares of Keysight in a report on Friday, December 8th. Finally, Credit Suisse Group upped their price objective on shares of Keysight from $54.00 to $57.00 and gave the stock an outperform rating in a report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $55.50.

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Shares of KEYS traded down $1.25 during mid-day trading on Friday, hitting $51.14. 771,154 shares of the company’s stock were exchanged, compared to its average volume of 874,612. Keysight has a twelve month low of $35.05 and a twelve month high of $55.21. The firm has a market cap of $9,954.10, a price-to-earnings ratio of 22.93 and a beta of 1.00. The company has a quick ratio of 1.88, a current ratio of 2.57 and a debt-to-equity ratio of 0.82.

Keysight (NYSE:KEYS) last announced its quarterly earnings results on Thursday, March 1st. The scientific and technical instruments company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.19. Keysight had a net margin of 2.64% and a return on equity of 18.19%. The company had revenue of $837.00 million for the quarter, compared to analyst estimates of $805.96 million. During the same quarter in the prior year, the business posted $0.57 EPS. Keysight’s quarterly revenue was up 15.3% on a year-over-year basis. research analysts predict that Keysight will post 2.7 earnings per share for the current fiscal year.

Keysight announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other Keysight news, SVP Ingrid A. Estrada sold 43,134 shares of the stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $52.78, for a total value of $2,276,612.52. Following the completion of the sale, the senior vice president now directly owns 74,213 shares of the company’s stock, valued at approximately $3,916,962.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mark Adam Wallace sold 34,803 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $52.65, for a total transaction of $1,832,377.95. Following the completion of the sale, the senior vice president now directly owns 171,187 shares of the company’s stock, valued at $9,012,995.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 278,415 shares of company stock valued at $13,420,794. Insiders own 0.97% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Keysight by 1.5% in the 4th quarter. BlackRock Inc. now owns 15,522,212 shares of the scientific and technical instruments company’s stock valued at $645,724,000 after buying an additional 223,294 shares in the last quarter. American Century Companies Inc. increased its position in shares of Keysight by 52.5% during the 4th quarter. American Century Companies Inc. now owns 7,596,674 shares of the scientific and technical instruments company’s stock worth $316,022,000 after purchasing an additional 2,613,683 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Keysight by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 4,301,488 shares of the scientific and technical instruments company’s stock worth $178,942,000 after purchasing an additional 328,386 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Keysight by 13.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,628,761 shares of the scientific and technical instruments company’s stock worth $109,514,000 after purchasing an additional 309,437 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of Keysight by 6.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,281,913 shares of the scientific and technical instruments company’s stock worth $94,928,000 after purchasing an additional 129,969 shares in the last quarter. Institutional investors own 88.65% of the company’s stock.

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Keysight Company Profile

Keysight Technologies, Inc provides electronic design and test solutions to communications and electronics industries internationally. Its Communications Solutions Group segment provides radio frequency and microwave test instruments and related software, and electronic design automation (EDA) 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 laser source products, as well as optical amplifier, filter, and other passive component solutions; and related software solutions.

Analyst Recommendations for Keysight (NYSE:KEYS)

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