Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Keysight Technologies Inc. (NYSE:KEYS)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Keysight Technologies by 11.3%, holding 307,947 shares worth approximately $46.1 million.
• Keysight Technologies reported a **record revenue** of $1.32 billion for the last quarter, surpassing estimates and showing a year-over-year growth of 7.4%.
• Analysts have upgraded Keysight Technologies' stock rating, with **predictions** of an average price target of $187.50, reflecting positive sentiment among investors.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 11.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 307,947 shares of the scientific and technical instruments company's stock after buying an additional 31,252 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Keysight Technologies worth $46,121,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KEYS. Central Pacific Bank Trust Division increased its stake in shares of Keysight Technologies by 97.8% during the first quarter. Central Pacific Bank Trust Division now owns 182 shares of the scientific and technical instruments company's stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Accent Capital Management LLC purchased a new position in Keysight Technologies in the first quarter worth approximately $28,000. Manchester Capital Management LLC grew its holdings in shares of Keysight Technologies by 85.0% during the 1st quarter. Manchester Capital Management LLC now owns 235 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 108 shares during the period. Private Trust Co. NA boosted its stake in Keysight Technologies by 39.9% during the first quarter. Private Trust Co. NA now owns 263 shares of the scientific and technical instruments company's stock worth $39,000 after buying an additional 75 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of Keysight Technologies by 241.8% during the 4th quarter. Sunbelt Securities Inc. now owns 270 shares of the scientific and technical instruments company's stock worth $44,000 after purchasing an additional 191 shares during the period. Hedge funds and other institutional investors own 84.58% of the company's stock.

Insider Activity

In related news, Director Richard P. Hamada sold 1,589 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $162.00, for a total value of $257,418.00. Following the completion of the sale, the director directly owned 42,160 shares of the company's stock, valued at $6,829,920. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Page sold 7,368 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $157.78, for a total transaction of $1,162,523.04. Following the completion of the sale, the senior vice president directly owned 36,986 shares of the company's stock, valued at approximately $5,835,651.08. This trade represents a 16.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,830 shares of company stock valued at $5,124,049 over the last 90 days. Insiders own 0.61% of the company's stock.

Keysight Technologies Stock Down 3.3%

Keysight Technologies stock traded down $5.62 during trading on Thursday, reaching $164.61. The stock had a trading volume of 841,749 shares, compared to its average volume of 794,774. The stock has a market cap of $28.33 billion, a PE ratio of 38.64, a P/E/G ratio of 2.40 and a beta of 1.11. The business has a 50 day moving average price of $163.15 and a 200 day moving average price of $158.65. Keysight Technologies Inc. has a 52-week low of $121.43 and a 52-week high of $186.20. The company has a quick ratio of 2.75, a current ratio of 3.39 and a debt-to-equity ratio of 0.46.

Keysight Technologies (NYSE:KEYS - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. 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. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.28 billion. Keysight Technologies had a net margin of 14.50% and a return on equity of 19.65%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, analysts predict that Keysight Technologies Inc. will post 6.32 EPS for the current year.

Wall Street Analyst Weigh In

KEYS has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Keysight Technologies from $156.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Keysight Technologies from $177.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Bank of America raised shares of Keysight Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the company from $170.00 to $175.00 in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.50.

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.