NorthCoast Asset Management LLC purchased a new stake in Keysight Technologies Inc. (NYSE:KEYS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 49,267 shares of the scientific and technical instruments company’s stock, valued at approximately $1,918,000.
Several other hedge funds also recently made changes to their positions in the company. Capital Fund Management S.A. grew its position in shares of Keysight Technologies by 34.7% in the 2nd quarter. Capital Fund Management S.A. now owns 184,678 shares of the scientific and technical instruments company’s stock valued at $7,190,000 after purchasing an additional 47,600 shares during the period. AXA grew its position in shares of Keysight Technologies by 38.3% in the 2nd quarter. AXA now owns 22,796 shares of the scientific and technical instruments company’s stock valued at $887,000 after purchasing an additional 6,312 shares during the period. Wells Fargo & Company MN grew its position in shares of Keysight Technologies by 327.0% in the 2nd quarter. Wells Fargo & Company MN now owns 533,505 shares of the scientific and technical instruments company’s stock valued at $20,769,000 after purchasing an additional 408,576 shares during the period. CIBC World Markets Inc. acquired a new position in shares of Keysight Technologies in the 2nd quarter valued at approximately $376,000. Finally, Commonwealth Bank of Australia grew its position in shares of Keysight Technologies by 71.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 24,900 shares of the scientific and technical instruments company’s stock valued at $969,000 after purchasing an additional 10,400 shares during the period. 88.07% of the stock is owned by institutional investors.
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Shares of Keysight Technologies Inc. (KEYS) traded up 1.03% during midday trading on Friday, hitting $41.37. The stock had a trading volume of 1,329,827 shares. The company’s 50 day moving average is $40.89 and its 200 day moving average is $38.96. The firm has a market cap of $7.70 billion, a P/E ratio of 31.56 and a beta of 1.15. Keysight Technologies Inc. has a 52 week low of $29.84 and a 52 week high of $43.15.
Keysight Technologies (NYSE:KEYS) last announced its earnings results on Wednesday, August 30th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The company had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $862.38 million. Keysight Technologies had a return on equity of 20.85% and a net margin of 7.58%. Keysight Technologies’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts predict that Keysight Technologies Inc. will post $2.47 earnings per share for the current fiscal year.
In other Keysight Technologies news, insider Ronald S. Nersesian sold 330,451 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $38.29, for a total value of $12,652,968.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jay Alexander sold 11,663 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $38.50, for a total value of $449,025.50. Following the completion of the sale, the senior vice president now owns 48,407 shares in the company, valued at $1,863,669.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 425,835 shares of company stock worth $16,381,392. 1.23% of the stock is owned by insiders.
Several brokerages recently issued reports on KEYS. BidaskClub lowered Keysight Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Zacks Investment Research upgraded Keysight Technologies from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, June 13th. Robert W. Baird reiterated a “buy” rating and issued a $48.00 price objective on shares of Keysight Technologies in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) started coverage on Keysight Technologies in a research report on Monday, June 5th. They set a “neutral” rating and a $38.00 price target for the company. Finally, Bank of America Corporation set a $53.00 price target on Keysight Technologies and gave the stock a “buy” rating in a research report on Thursday, June 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.60.
Keysight Technologies Profile
Keysight Technologies, Inc is a measurement company engaged in providing electronic design and test solutions to communications and electronics industries. The Company provides electronic design and test instruments and systems and related software, software design tools and related services that are used in the design, development, manufacture, installation, deployment and operation of electronics equipment.
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