Keysight Technologies Inc. (NYSE:KEYS) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,214,400 shares, an increase of 100.9% from the May 31st total of 604,571 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 1,477,842 shares, the days-to-cover ratio is currently 0.8 days.
In other news, insider Ronald S. Nersesian sold 330,451 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $38.29, for a total transaction of $12,652,968.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Dockendorff acquired 13,210 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were purchased at an average price of $37.81 per share, with a total value of $499,470.10. Following the acquisition, the director now owns 51,800 shares of the company’s stock, valued at $1,958,558. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 458,877 shares of company stock worth $17,638,316. Insiders own 1.23% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of KEYS. Vanguard Group Inc. raised its stake in Keysight Technologies by 12.6% in the first quarter. Vanguard Group Inc. now owns 14,906,887 shares of the scientific and technical instruments company’s stock worth $538,735,000 after buying an additional 1,666,595 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Keysight Technologies by 12,373.5% in the first quarter. BlackRock Inc. now owns 14,542,749 shares of the scientific and technical instruments company’s stock valued at $525,577,000 after buying an additional 14,426,160 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Keysight Technologies by 19.2% in the first quarter. JPMorgan Chase & Co. now owns 7,320,322 shares of the scientific and technical instruments company’s stock valued at $264,556,000 after buying an additional 1,179,662 shares in the last quarter. American Century Companies Inc. boosted its stake in Keysight Technologies by 16.0% in the first quarter. American Century Companies Inc. now owns 6,112,660 shares of the scientific and technical instruments company’s stock valued at $220,912,000 after buying an additional 843,676 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Keysight Technologies by 93.4% in the first quarter. Wellington Management Group LLP now owns 5,076,285 shares of the scientific and technical instruments company’s stock valued at $183,456,000 after buying an additional 2,452,119 shares in the last quarter. 87.73% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on KEYS shares. BidaskClub upgraded Keysight Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Stifel Nicolaus lifted their target price on Keysight Technologies from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, June 7th. Citigroup Inc. upped their target price on Keysight Technologies from $44.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, June 7th. Deutsche Bank AG set a $46.00 price target on Keysight Technologies and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Keysight Technologies in a research note on Monday, June 5th. They set a “neutral” rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $45.44.
Shares of Keysight Technologies (NYSE:KEYS) opened at 41.95 on Tuesday. Keysight Technologies has a 1-year low of $26.87 and a 1-year high of $42.08. The company has a market capitalization of $7.78 billion, a PE ratio of 21.32 and a beta of 1.12. The company’s 50-day moving average price is $38.26 and its 200-day moving average price is $37.39.
Keysight Technologies (NYSE:KEYS) last announced its earnings results on Tuesday, June 6th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.12. The company had revenue of $758 million for the quarter, compared to analysts’ expectations of $748.59 million. Keysight Technologies had a return on equity of 22.62% and a net margin of 11.61%. Keysight Technologies’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, equities analysts expect that Keysight Technologies will post $2.47 earnings per share for the current fiscal year.
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About Keysight Technologies
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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