Stock Repurchase Program Declared by Keysight Technologies (NYSE:KEYS) Board

Keysight Technologies (NYSE:KEYS) declared that its board has initiated a stock repurchase program on Monday, November 24th, RTT News reports. The company plans to buyback $1.50 billion in shares. This buyback authorization permits the scientific and technical instruments company to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Keysight Technologies Price Performance

Shares of KEYS traded up $5.16 on Monday, reaching $177.87. The stock had a trading volume of 2,794,615 shares, compared to its average volume of 1,032,472. Keysight Technologies has a twelve month low of $121.43 and a twelve month high of $187.67. The firm has a market capitalization of $30.57 billion, a PE ratio of 56.65, a PEG ratio of 2.38 and a beta of 1.22. The firm has a 50-day moving average of $173.64 and a 200 day moving average of $167.01. The company has a quick ratio of 2.94, a current ratio of 3.59 and a debt-to-equity ratio of 0.45.

Analyst Ratings Changes

KEYS has been the topic of a number of analyst reports. Bank of America lifted their price objective on Keysight Technologies from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Wall Street Zen cut Keysight Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Jefferies Financial Group began coverage on Keysight Technologies in a research note on Monday, October 27th. They issued a “hold” rating and a $180.00 price target on the stock. Barclays cut their price objective on Keysight Technologies from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Keysight Technologies in a research report on Wednesday, November 19th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $196.00.

Insiders Place Their Bets

In other news, SVP Ingrid A. Estrada sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $173.98, for a total value of $347,960.00. Following the completion of the transaction, the senior vice president owned 106,590 shares in the company, valued at $18,544,528.20. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.61% 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.