Primecap Management Co. CA Sells 17,640 Shares of Keysight Technologies Inc. (NYSE:KEYS)

Key Points

• Primecap Management Co. has reduced its position in Keysight Technologies by 2.6%, selling 17,640 shares, while still holding about 0.39% of the company, valued at $100.3 million.
• In the first quarter, other hedge funds have significantly increased their stakes in Keysight, with Central Pacific Bank Trust Division and Manchester Capital Management boosting their holdings by 97.8% and 85.0% respectively.
• Keysight Technologies has recently reported a quarterly profit of $1.70 EPS, exceeding estimates, and its stock currently holds a consensus rating of "Moderate Buy" with an average price target of $187.50 from analysts.

Primecap Management Co. CA lowered its position in Keysight Technologies Inc. (NYSE:KEYS - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 669,635 shares of the scientific and technical instruments company's stock after selling 17,640 shares during the quarter. Primecap Management Co. CA owned approximately 0.39% of Keysight Technologies worth $100,291,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Keysight Technologies by 0.5% in the first quarter. Vanguard Group Inc. now owns 20,969,511 shares of the scientific and technical instruments company's stock valued at $3,140,604,000 after acquiring an additional 95,876 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Keysight Technologies by 29.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,114,952 shares of the scientific and technical instruments company's stock valued at $2,588,546,000 after purchasing an additional 3,621,349 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Keysight Technologies by 364.6% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,652,311 shares of the scientific and technical instruments company's stock valued at $747,301,000 after purchasing an additional 3,650,953 shares during the period. Capital World Investors raised its position in shares of Keysight Technologies by 15.6% in the fourth quarter. Capital World Investors now owns 3,790,432 shares of the scientific and technical instruments company's stock valued at $608,857,000 after purchasing an additional 511,724 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Keysight Technologies by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,593,611 shares of the scientific and technical instruments company's stock valued at $416,612,000 after purchasing an additional 214,015 shares during the period. Institutional investors and hedge funds own 84.58% of the company's stock.

Keysight Technologies Stock Performance

NYSE:KEYS traded down $1.72 during mid-day trading on Monday, reaching $163.24. 144,226 shares of the company's stock were exchanged, compared to its average volume of 969,071. Keysight Technologies Inc. has a one year low of $121.43 and a one year high of $186.20. The firm has a market capitalization of $28.10 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.33 and a beta of 1.11. The business's fifty day simple moving average is $162.68 and its two-hundred day simple moving average is $158.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.75 and a current ratio of 3.39.

Keysight Technologies (NYSE:KEYS - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The scientific and technical instruments company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.65 by $0.05. Keysight Technologies had a net margin of 14.50% and a return on equity of 19.65%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $1.41 earnings per share. Keysight Technologies's revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Keysight Technologies Inc. will post 6.32 earnings per share for the current fiscal year.

Insider Transactions at Keysight Technologies

In other Keysight Technologies news, SVP Ingrid A. Estrada sold 10,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $158.97, for a total value of $1,589,700.00. Following the transaction, the senior vice president directly owned 108,590 shares of the company's stock, valued at $17,262,552.30. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Satish Dhanasekaran sold 658 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $157.78, for a total transaction of $103,819.24. Following the completion of the transaction, the chief executive officer directly owned 115,576 shares in the company, valued at approximately $18,235,581.28. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,830 shares of company stock worth $5,124,049. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KEYS. Bank of America raised shares of Keysight Technologies from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $170.00 to $175.00 in a research report on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on shares of Keysight Technologies from $177.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley increased their price objective on shares of Keysight Technologies from $156.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Keysight Technologies 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.