Keysight Technologies (NYSE:KEYS) Releases Earnings Results, Beats Expectations By $0.59 EPS

Key Points

• Keysight Technologies beat quarterly expectations: EPS came in at $3.07, $0.59 above estimates, while revenue reached $1.85 billion versus the $1.75 billion consensus.
• Shares fell 5.5% despite the earnings beat, trading at $341.35. The stock has a market capitalization of $58.34 billion and trades at a price-to-earnings ratio of 56.14.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $371.92; several firms recently raised their targets, while company insiders sold 5,507 shares worth roughly $1.9 million over the past 90 days.

Keysight Technologies (NYSE:KEYS - Get Free Report) issued its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $3.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.59, FiscalAI reports. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.75 billion. Keysight Technologies had a net margin of 17.25% and a return on equity of 21.58%.

Keysight Technologies Stock Down 5.5%

Shares of Keysight Technologies stock traded down $19.80 during trading hours on Tuesday, hitting $341.35. 2,571,534 shares of the company's stock traded hands, compared to its average volume of 1,437,093. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 0.29. Keysight Technologies has a twelve month low of $152.85 and a twelve month high of $374.96. The stock has a 50 day simple moving average of $333.92 and a 200-day simple moving average of $313.09. The company has a market cap of $58.34 billion, a PE ratio of 56.14, a PEG ratio of 2.04 and a beta of 1.22.

Insider Buying and Selling at Keysight Technologies

In other Keysight Technologies news, SVP Ingrid A. Estrada sold 2,000 shares of Keysight Technologies stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $340.87, for a total transaction of $681,740.00. Following the sale, the senior vice president directly owned 105,861 shares in the company, valued at $36,084,839.07. The trade was a 1.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Cullen sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $346.58, for a total value of $1,039,740.00. Following the completion of the transaction, the director directly owned 21,821 shares in the company, valued at approximately $7,562,722.18. The trade was a 12.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,507 shares of company stock worth $1,904,669 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KEYS. AQR Capital Management LLC grew its stake in Keysight Technologies by 92.6% in the first quarter. AQR Capital Management LLC now owns 27,216 shares of the scientific and technical instruments company's stock worth $3,965,000 after purchasing an additional 13,085 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Keysight Technologies by 5.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,581 shares of the scientific and technical instruments company's stock valued at $387,000 after acquiring an additional 122 shares during the last quarter. Empowered Funds LLC lifted its stake in Keysight Technologies by 30.0% during the first quarter. Empowered Funds LLC now owns 10,652 shares of the scientific and technical instruments company's stock worth $1,595,000 after purchasing an additional 2,461 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Keysight Technologies by 66.5% in the first quarter. Geneos Wealth Management Inc. now owns 393 shares of the scientific and technical instruments company's stock worth $59,000 after purchasing an additional 157 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Keysight Technologies during the second quarter worth $254,000. 84.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on KEYS. Wall Street Zen downgraded shares of Keysight Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. UBS Group raised their price objective on Keysight Technologies from $340.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Wells Fargo & Company increased their target price on Keysight Technologies from $300.00 to $390.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Barclays upped their price objective on shares of Keysight Technologies from $320.00 to $387.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Keysight Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Keysight Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $371.92.

Keysight Technologies Company Profile

Keysight Technologies is a global provider of electronic design, test, measurement and optimization solutions for communications, electronics and related industries. The company was formed as a corporate spin-off from Agilent Technologies in 2014; its origins trace back to the electronic measurement business that was part of Hewlett‑Packard before Agilent. Keysight develops hardware and software used throughout the product development lifecycle, from design and simulation to prototype validation and manufacturing test.

Keysight's product portfolio includes electronic test and measurement instruments such as oscilloscopes, network and spectrum analyzers, signal generators, vector network analyzers and modular PXI-based systems, together with software platforms for simulation, automated test and data analysis.

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