Keysight Technologies (NYSE:KEYS) Hits New 52-Week High Following Analyst Upgrade

Keysight Technologies, Inc. (NYSE:KEYS) reached a new 52-week high during trading on Wednesday after Bank of America raised their price target on the stock from $150.00 to $160.00. Bank of America currently has an underperform rating on the stock. Keysight Technologies traded as high as $168.46 and last traded at $163.55, with a volume of 241116 shares changing hands. The stock had previously closed at $152.13.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of Keysight Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company reissued an “overweight” rating and set a $180.00 price target on shares of Keysight Technologies in a report on Wednesday, August 21st. Barclays upped their price objective on Keysight Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on Keysight Technologies from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Vertical Research began coverage on Keysight Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $175.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Keysight Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $177.30.

Hedge Funds Weigh In On Keysight Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in KEYS. Meeder Asset Management Inc. purchased a new stake in Keysight Technologies during the second quarter worth about $27,000. Truvestments Capital LLC purchased a new stake in shares of Keysight Technologies during the 3rd quarter worth approximately $28,000. Erste Asset Management GmbH acquired a new stake in shares of Keysight Technologies in the 3rd quarter worth approximately $29,000. Family Firm Inc. purchased a new position in Keysight Technologies in the 2nd quarter valued at approximately $30,000. Finally, American National Bank & Trust acquired a new position in Keysight Technologies during the third quarter worth $31,000. 84.58% of the stock is owned by institutional investors and hedge funds.

Keysight Technologies Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 1.52. The company has a market capitalization of $29.50 billion, a PE ratio of 48.57, a P/E/G ratio of 4.46 and a beta of 0.98. The stock has a 50-day simple moving average of $155.72 and a 200 day simple moving average of $146.10.

Keysight Technologies (NYSE:KEYS) last released its quarterly earnings data on Tuesday, August 20th. The scientific and technical instruments company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.35 by $0.22. Keysight Technologies had a net margin of 12.32% and a return on equity of 19.34%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $2.04 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts anticipate that Keysight Technologies, Inc. will post 6.18 EPS for the current fiscal year.

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.