Primecap Management Co. CA Sells 125,454 Shares of Keysight Technologies Inc (NYSE:KEYS)

Primecap Management Co. CA decreased its position in shares of Keysight Technologies Inc (NYSE:KEYS) by 3.1% during the 1st quarter, HoldingsChannel reports. The firm owned 3,915,451 shares of the scientific and technical instruments company’s stock after selling 125,454 shares during the quarter. Primecap Management Co. CA’s holdings in Keysight Technologies were worth $341,427,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Securian Asset Management Inc grew its holdings in Keysight Technologies by 0.9% in the first quarter. Securian Asset Management Inc now owns 19,454 shares of the scientific and technical instruments company’s stock valued at $1,696,000 after purchasing an additional 175 shares during the period. Dean Investment Associates LLC increased its stake in Keysight Technologies by 1.0% during the 4th quarter. Dean Investment Associates LLC now owns 18,332 shares of the scientific and technical instruments company’s stock valued at $1,138,000 after purchasing an additional 183 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Keysight Technologies by 1.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,632 shares of the scientific and technical instruments company’s stock worth $970,000 after acquiring an additional 201 shares in the last quarter. Parallel Advisors LLC grew its position in Keysight Technologies by 37.4% during the first quarter. Parallel Advisors LLC now owns 860 shares of the scientific and technical instruments company’s stock valued at $75,000 after buying an additional 234 shares during the period. Finally, ETF Managers Group LLC lifted its holdings in Keysight Technologies by 9.7% during the first quarter. ETF Managers Group LLC now owns 2,731 shares of the scientific and technical instruments company’s stock valued at $238,000 after purchasing an additional 242 shares during the last quarter. 85.68% of the stock is currently owned by hedge funds and other institutional investors.

KEYS has been the subject of several recent analyst reports. Deutsche Bank lifted their price target on Keysight Technologies from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Stifel Nicolaus boosted their price target on Keysight Technologies from $87.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Citigroup raised Keysight Technologies to a “top pick” rating and set a $100.00 price objective on the stock in a report on Friday, February 22nd. Robert W. Baird downgraded Keysight Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $90.00 to $82.00 in a research report on Monday, May 20th. Finally, Jefferies Financial Group upped their price objective on Keysight Technologies to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $94.29.

In related news, SVP Mark Pierpoint sold 13,618 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.15, for a total transaction of $1,023,392.70. Following the completion of the transaction, the senior vice president now owns 47,533 shares in the company, valued at $3,572,104.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Cullen sold 16,268 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $75.50, for a total transaction of $1,228,234.00. Following the transaction, the director now owns 25,361 shares of the company’s stock, valued at approximately $1,914,755.50. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

NYSE KEYS traded down $1.41 during trading hours on Friday, hitting $83.42. The company’s stock had a trading volume of 13,002 shares, compared to its average volume of 2,413,892. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.90 and a quick ratio of 1.46. The firm has a market capitalization of $15.73 billion, a P/E ratio of 27.80, a P/E/G ratio of 2.17 and a beta of 1.22. Keysight Technologies Inc has a twelve month low of $53.21 and a twelve month high of $93.77.

Keysight Technologies (NYSE:KEYS) last announced its quarterly earnings data on Wednesday, May 29th. The scientific and technical instruments company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.31. Keysight Technologies had a net margin of 6.61% and a return on equity of 27.06%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.83 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Keysight Technologies Inc will post 3.88 EPS for the current fiscal year.

Keysight Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 29th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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About Keysight Technologies

Keysight Technologies, Inc provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, and electronic industries in the Americas and the Asia Pacific. Its Communications Solutions Group segment provides radio frequency and microwave test instruments, and electronic design automation software tools; oscilloscopes, logic and serial protocol analyzers, logic-signal sources, arbitrary waveform generators, and bit error rate testers; optical modulation analyzers, component analyzers, power meters, and optical laser source solutions, as well as optical amplifier, filter, and other passive component solutions; and related software solutions.

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Institutional Ownership by Quarter for Keysight Technologies (NYSE:KEYS)

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