Keysight Technologies (NYSE:KEYS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $78.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 2.54% from the stock’s current price.

According to Zacks, “KeySight reported stellar second-quarter results. The company’s focus on launching new solutions for growth markets like 5G, IoT, next-generation wireless, high-speed datacenters and automotive & energy is a key catalyst. Further, collaborations with Qualcomm, Xilinx and AT&T are expected to fortify presence in the 5G network emulation market. The acquisitions of Ixia, Anite and AT4 Wireless have enriched Keysight’s 5G solutions portfolio. However, the company provided a tepid third-quarter guidance owing to it’s connection with the Chinese telecom giant, Huawei. Also, leveraged balance sheet and integration risks remain major concerns. Further, Keysight derives a significant proportion of its revenues from outside the United States rendering it susceptible to exchange rate volatility.”

Several other research analysts have also recently weighed in on KEYS. Deutsche Bank lowered their price target on shares of Keysight Technologies from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Robert W. Baird cut shares of Keysight Technologies from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $82.00 in a report on Monday, May 20th. Stifel Nicolaus increased their price target on shares of Keysight Technologies from $87.00 to $100.00 and gave the company a “buy” rating in a report on Monday, April 1st. Dougherty & Co reissued a “sell” rating on shares of Keysight Technologies in a report on Friday, March 1st. Finally, Jefferies Financial Group increased their price target on shares of Keysight Technologies to $100.00 and gave the company a “buy” rating in a report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $94.29.

NYSE:KEYS traded up $1.86 on Tuesday, hitting $76.07. 12,771 shares of the company’s stock were exchanged, compared to its average volume of 1,986,648. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.90 and a quick ratio of 1.46. Keysight Technologies has a 52 week low of $53.21 and a 52 week high of $93.77. The stock has a market capitalization of $14.27 billion, a PE ratio of 25.27 and a beta of 1.22.

Keysight Technologies (NYSE:KEYS) last issued its quarterly earnings results on Wednesday, May 29th. The scientific and technical instruments company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.91 by $0.31. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Keysight Technologies had a net margin of 6.61% and a return on equity of 27.06%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. On average, analysts anticipate that Keysight Technologies will post 3.66 earnings per share for the current fiscal year.

Keysight Technologies declared that its Board of Directors has initiated a share buyback program on Wednesday, May 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other Keysight Technologies news, SVP Mark Adam Wallace sold 4,775 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $85.65, for a total transaction of $408,978.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in Keysight Technologies in the first quarter valued at approximately $1,880,000. Marshall Wace LLP acquired a new stake in Keysight Technologies in the first quarter valued at approximately $415,000. Clearbridge Investments LLC acquired a new stake in Keysight Technologies in the first quarter valued at approximately $27,845,000. Rehmann Capital Advisory Group boosted its position in Keysight Technologies by 74.4% in the first quarter. Rehmann Capital Advisory Group now owns 783 shares of the scientific and technical instruments company’s stock valued at $68,000 after buying an additional 334 shares in the last quarter. Finally, GYL Financial Synergies LLC acquired a new stake in Keysight Technologies in the first quarter valued at approximately $838,000. Institutional investors and hedge funds own 85.74% of the company’s stock.

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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