Keysight Technologies (NYSE:KEYS) Shares Gap Up Following Strong Earnings

Keysight Technologies, Inc. (NYSE:KEYS - Get Free Report) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $162.80, but opened at $171.60. Keysight Technologies shares last traded at $172.22, with a volume of 311,203 shares trading hands.

The scientific and technical instruments company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.05. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Keysight Technologies had a return on equity of 19.22% and a net margin of 12.32%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS.

Analyst Ratings Changes

A number of analysts recently issued reports on KEYS shares. Morgan Stanley upped their target price on Keysight Technologies from $156.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of Keysight Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 22nd. JPMorgan Chase & Co. boosted their price target on Keysight Technologies from $172.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Bank of America increased their price objective on Keysight Technologies from $165.00 to $170.00 and gave the company an "underperform" rating in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on Keysight Technologies from $180.00 to $190.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, Keysight Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $183.00.

Insiders Place Their Bets

In other Keysight Technologies news, Director Richard P. Hamada sold 1,589 shares of Keysight Technologies stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $162.00, for a total value of $257,418.00. Following the completion of the transaction, the director now directly owns 42,160 shares in the company, 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 SEC, which is available at this link. Also, CFO Neil Dougherty sold 3,632 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $155.00, for a total value of $562,960.00. Following the sale, the chief financial officer now owns 115,063 shares in the company, valued at $17,834,765. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Keysight Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Dakota Wealth Management raised its holdings in shares of Keysight Technologies by 5.5% during the fourth quarter. Dakota Wealth Management now owns 3,431 shares of the scientific and technical instruments company's stock valued at $551,000 after buying an additional 178 shares during the last quarter. Archford Capital Strategies LLC increased its position in Keysight Technologies by 4.7% in the 4th quarter. Archford Capital Strategies LLC now owns 2,764 shares of the scientific and technical instruments company's stock valued at $444,000 after acquiring an additional 123 shares during the period. Blue Trust Inc. raised its stake in Keysight Technologies by 22.8% during the 4th quarter. Blue Trust Inc. now owns 2,163 shares of the scientific and technical instruments company's stock valued at $344,000 after acquiring an additional 402 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Keysight Technologies during the 4th quarter valued at $2,549,000. Finally, KBC Group NV boosted its position in Keysight Technologies by 2.4% during the 4th quarter. KBC Group NV now owns 60,367 shares of the scientific and technical instruments company's stock worth $9,696,000 after acquiring an additional 1,424 shares during the period. Institutional investors and hedge funds own 84.58% of the company's stock.

Keysight Technologies Stock Performance

The company has a market cap of $27.68 billion, a P/E ratio of 45.77, a PEG ratio of 2.41 and a beta of 1.10. The company has a quick ratio of 2.27, a current ratio of 2.98 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average price of $147.52 and a 200-day moving average price of $159.70.

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.