Lazard Asset Management LLC raised its position in shares of Keysight Technologies Inc (NYSE:KEYS) by 180.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,471 shares of the scientific and technical instruments company’s stock after buying an additional 103,269 shares during the period. Lazard Asset Management LLC’s holdings in Keysight Technologies were worth $13,993,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KEYS. Atlas Capital Advisors LLC purchased a new stake in Keysight Technologies during the 1st quarter valued at $29,000. Sun Life Financial INC purchased a new stake in Keysight Technologies during the 4th quarter valued at $32,000. Kaizen Advisory LLC purchased a new stake in Keysight Technologies during the 4th quarter valued at $32,000. Liberty Wealth Management LLC purchased a new stake in Keysight Technologies during the 4th quarter valued at $32,000. Finally, Guardian Life Insurance Co. of America purchased a new stake in Keysight Technologies during the 4th quarter valued at $33,000. 85.68% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE KEYS opened at $83.57 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.90 and a quick ratio of 1.46. Keysight Technologies Inc has a 12 month low of $53.21 and a 12 month high of $93.77. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.17 and a beta of 1.22.
Keysight Technologies (NYSE:KEYS) last issued its quarterly earnings data on Wednesday, May 29th. The scientific and technical instruments company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.31. Keysight Technologies had a net margin of 6.61% and a return on equity of 27.06%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Keysight Technologies Inc will post 3.88 EPS for the current year.
Keysight Technologies declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 29th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to repurchase 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 shares are undervalued.
Several equities research analysts have weighed in on the stock. Deutsche Bank dropped their price target on shares of Keysight Technologies from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Robert W. Baird cut shares of Keysight Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $90.00 to $82.00 in a research report on Monday, May 20th. Jefferies Financial Group increased their price target on shares of Keysight Technologies to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. Zacks Investment Research raised shares of Keysight Technologies from a “hold” rating to a “strong-buy” rating and set a $78.00 price target for the company in a research report on Tuesday, June 4th. Finally, Stifel Nicolaus increased their price target on shares of Keysight Technologies from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Keysight Technologies presently has a consensus rating of “Buy” and a consensus target price of $94.29.
In related news, SVP Mark Pierpoint sold 13,618 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.15, for a total value of $1,023,392.70. Following the completion of the transaction, the senior vice president now directly owns 47,533 shares in the company, valued at approximately $3,572,104.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Cullen sold 16,268 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $75.50, for a total transaction of $1,228,234.00. Following the completion of the transaction, the director now owns 25,361 shares of the company’s stock, valued at $1,914,755.50. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
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Keysight Technologies Company Profile
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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