Primecap Management Co. CA Lowers Holdings in Keysight Technologies, Inc. (NYSE:KEYS)

Primecap Management Co. CA decreased its stake in shares of Keysight Technologies, Inc. (NYSE:KEYS) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 745,125 shares of the scientific and technical instruments company’s stock after selling 12,350 shares during the quarter. Primecap Management Co. CA owned about 0.43% of Keysight Technologies worth $101,896,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KEYS. Avantax Advisory Services Inc. purchased a new position in Keysight Technologies during the fourth quarter valued at $216,000. Financial Advocates Investment Management purchased a new position in shares of Keysight Technologies in the fourth quarter worth $279,000. Brown Advisory Inc. raised its stake in shares of Keysight Technologies by 19.8% in the fourth quarter. Brown Advisory Inc. now owns 47,971 shares of the scientific and technical instruments company’s stock worth $7,632,000 after purchasing an additional 7,945 shares during the last quarter. ING Groep NV raised its stake in shares of Keysight Technologies by 8.6% in the fourth quarter. ING Groep NV now owns 24,311 shares of the scientific and technical instruments company’s stock worth $3,868,000 after purchasing an additional 1,918 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Keysight Technologies in the fourth quarter worth $303,444,000. Hedge funds and other institutional investors own 84.58% of the company’s stock.

Keysight Technologies Stock Performance

NYSE:KEYS opened at $150.49 on Wednesday. The stock has a 50-day simple moving average of $140.77 and a two-hundred day simple moving average of $144.87. Keysight Technologies, Inc. has a 52-week low of $118.57 and a 52-week high of $162.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.52 and a current ratio of 2.05. The firm has a market capitalization of $26.27 billion, a PE ratio of 32.79, a P/E/G ratio of 5.03 and a beta of 0.97.

Keysight Technologies (NYSE:KEYS) last released its quarterly earnings results on Tuesday, August 20th. The scientific and technical instruments company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.22. Keysight Technologies had a return on equity of 21.01% and a net margin of 18.24%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. Keysight Technologies’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts forecast that Keysight Technologies, Inc. will post 5.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna decreased their price target on Keysight Technologies from $195.00 to $185.00 and set a “positive” rating for the company in a research note on Wednesday, August 21st. Robert W. Baird decreased their price target on Keysight Technologies from $167.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Barclays boosted their price target on Keysight Technologies from $141.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. Bank of America boosted their price target on Keysight Technologies from $135.00 to $150.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upped their price objective on Keysight Technologies from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.67.

Insider Transactions at Keysight Technologies

In other news, Director Richard P. Hamada sold 1,632 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $156.00, for a total value of $254,592.00. Following the completion of the transaction, the director now owns 42,160 shares of the company’s stock, valued at $6,576,960. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

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.