Rhumbline Advisers trimmed its stake in Keysight Technologies Inc. (NYSE:KEYS – Free Report) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 331,235 shares of the scientific and technical instruments company’s stock after selling 4,845 shares during the quarter. Rhumbline Advisers’ holdings in Keysight Technologies were worth $57,940,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of 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 valued at $3,965,000 after buying an additional 13,085 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Keysight Technologies by 5.0% during the first quarter. Integrated Wealth Concepts LLC now owns 2,581 shares of the scientific and technical instruments company’s stock worth $387,000 after acquiring an additional 122 shares in the last quarter. Empowered Funds LLC lifted its stake in Keysight Technologies by 30.0% in the first quarter. Empowered Funds LLC now owns 10,652 shares of the scientific and technical instruments company’s stock valued at $1,595,000 after acquiring an additional 2,461 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake 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 valued at $59,000 after acquiring an additional 157 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new position in shares of Keysight Technologies in the 2nd quarter valued at about $254,000. Institutional investors and hedge funds own 84.58% of the company’s stock.
Keysight Technologies Trading Up 1.7%
Shares of KEYS stock opened at $233.46 on Friday. Keysight Technologies Inc. has a 12-month low of $121.43 and a 12-month high of $242.62. The firm has a 50 day moving average price of $213.72 and a two-hundred day moving average price of $187.24. The company has a quick ratio of 1.78, a current ratio of 2.35 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $40.04 billion, a PE ratio of 47.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.
Keysight Technologies declared that its Board of Directors has approved a stock buyback program on Monday, November 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
Insider Activity at Keysight Technologies
In other news, SVP Jeffrey K. Li sold 3,934 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $200.84, for a total value of $790,104.56. Following the completion of the sale, the senior vice president owned 36,699 shares of the company’s stock, valued at approximately $7,370,627.16. The trade was a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Sung Yoon sold 889 shares of the business’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $206.66, for a total transaction of $183,720.74. Following the completion of the sale, the senior vice president directly owned 16,953 shares of the company’s stock, valued at approximately $3,503,506.98. The trade was a 4.98% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 78,784 shares of company stock valued at $15,841,737. 0.40% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on KEYS. Susquehanna upped their target price on shares of Keysight Technologies from $215.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday, November 25th. Wells Fargo & Company boosted their price target on Keysight Technologies from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. UBS Group set a $230.00 price objective on Keysight Technologies in a research note on Tuesday, November 25th. Jefferies Financial Group raised their price objective on Keysight Technologies from $195.00 to $220.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Keysight Technologies in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Keysight Technologies currently has an average rating of “Moderate Buy” and an average target price of $221.64.
View Our Latest Stock Analysis on Keysight Technologies
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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