Penserra Capital Management LLC grew its holdings in shares of Keysight Technologies Inc. (NYSE:KEYS – Free Report) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,842 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,552 shares during the quarter. Penserra Capital Management LLC’s holdings in Keysight Technologies were worth $12,041,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. True Wealth Design LLC raised its position in Keysight Technologies by 358.3% in the 2nd quarter. True Wealth Design LLC now owns 165 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 129 shares during the period. NewSquare Capital LLC grew its stake in shares of Keysight Technologies by 155.2% during the second quarter. NewSquare Capital LLC now owns 171 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Keysight Technologies during the second quarter valued at about $34,000. IFP Advisors Inc increased its holdings in shares of Keysight Technologies by 49.1% in the second quarter. IFP Advisors Inc now owns 246 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 81 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in shares of Keysight Technologies in the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 84.58% of the company’s stock.
Keysight Technologies Price Performance
KEYS opened at $221.33 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.78 and a current ratio of 2.35. The stock has a market capitalization of $37.96 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The stock’s 50 day moving average price is $209.58 and its 200-day moving average price is $184.14. Keysight Technologies Inc. has a 52-week low of $121.43 and a 52-week high of $232.92.
Keysight Technologies announced that its Board of Directors has authorized a stock buyback program on Monday, November 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
KEYS has been the subject of several analyst reports. Wells Fargo & Company increased their target price on Keysight Technologies from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. JPMorgan Chase & Co. increased their price objective on Keysight Technologies from $200.00 to $207.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. UBS Group set a $230.00 target price on shares of Keysight Technologies in a research note on Tuesday, November 25th. Robert W. Baird set a $230.00 price target on shares of Keysight Technologies in a report on Monday. Finally, Citigroup raised their price target on shares of Keysight Technologies from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Keysight Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $221.64.
Check Out Our Latest Stock Analysis on KEYS
Insider Activity at Keysight Technologies
In related news, Director Ronald S. Nersesian sold 30,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $196.88, for a total value of $5,906,400.00. Following the completion of the transaction, the director directly owned 198,389 shares of the company’s stock, valued at $39,058,826.32. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John Page sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $213.48, for a total transaction of $3,202,200.00. Following the completion of the sale, the senior vice president owned 21,393 shares of the company’s stock, valued at $4,566,977.64. This trade represents a 41.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,784 shares of company stock valued at $15,841,737 over the last three months. Corporate insiders own 0.40% of the company’s stock.
About Keysight Technologies
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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