Keysight Technologies (KEYS)
Market Price (7/28/2026): $312.89 | Market Cap: $53.5 BilInvestor Relations Sector: Information Technology | Industry: Electronic Equipment & Instruments
Keysight Technologies (KEYS)
Market Price (7/28/2026): $312.89Market Cap: $53.5 BilSector: Information TechnologyIndustry: Electronic Equipment & Instruments
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% Stock buyback supportStock Buyback 3Y Total is 1.7 Bil Low stock price volatilityVol 12M is 42% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Artificial Intelligence, and Electric Vehicles & Autonomous Driving. Themes include Telecom Infrastructure, Show more. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3% Key risksKEYS key risks include [1] unpredictable demand and revenue volatility stemming from its dependence on cyclical end markets, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Stock buyback supportStock Buyback 3Y Total is 1.7 Bil |
| Low stock price volatilityVol 12M is 42% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Artificial Intelligence, and Electric Vehicles & Autonomous Driving. Themes include Telecom Infrastructure, Show more. |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3% |
| Key risksKEYS key risks include [1] unpredictable demand and revenue volatility stemming from its dependence on cyclical end markets, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/27/2026
Keysight Technologies (KEYS) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Keysight Technologies reported record-setting financial results for its fiscal Q2 2026, which ended on April 30, 2026. The company announced non-GAAP earnings per share (EPS) of $2.87, exceeding analysts' expectations of $2.26 by 26.99%. Revenue for the quarter reached $1.72 billion, marking a 31.5% increase year-over-year from fiscal Q2 2025 and also surpassing analyst estimates of $1.71 billion. Furthermore, the company achieved all-time highs in orders, totaling $2.051 billion (a 56% year-over-year increase), and recorded a record $472 million in free cash flow.
2. The company issued a strong fiscal 2026 outlook and positive guidance for fiscal Q3 2026. Following its strong performance in fiscal Q2 2026, Keysight raised its full-year fiscal 2026 revenue growth expectations to the high-20s percent range. For fiscal Q3 2026, Keysight projected revenue to be between $1.730 billion and $1.750 billion, representing approximately 29% year-over-year growth at the midpoint. Non-GAAP EPS for fiscal Q3 2026 is anticipated to be in the range of $2.43 to $2.49, reflecting an approximate 43% year-over-year growth at the midpoint.
Show more
Keysight Technologies (KEYS) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Keysight Technologies reported record-setting financial results for its fiscal Q2 2026, which ended on April 30, 2026. The company announced non-GAAP earnings per share (EPS) of $2.87, exceeding analysts' expectations of $2.26 by 26.99%. Revenue for the quarter reached $1.72 billion, marking a 31.5% increase year-over-year from fiscal Q2 2025 and also surpassing analyst estimates of $1.71 billion. Furthermore, the company achieved all-time highs in orders, totaling $2.051 billion (a 56% year-over-year increase), and recorded a record $472 million in free cash flow.
2. The company issued a strong fiscal 2026 outlook and positive guidance for fiscal Q3 2026. Following its strong performance in fiscal Q2 2026, Keysight raised its full-year fiscal 2026 revenue growth expectations to the high-20s percent range. For fiscal Q3 2026, Keysight projected revenue to be between $1.730 billion and $1.750 billion, representing approximately 29% year-over-year growth at the midpoint. Non-GAAP EPS for fiscal Q3 2026 is anticipated to be in the range of $2.43 to $2.49, reflecting an approximate 43% year-over-year growth at the midpoint.
Show more
Updated on 7/27/2026
Keysight Technologies (KEYS) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Keysight Technologies reported record-setting financial results for its fiscal Q2 2026, which ended on April 30, 2026. The company announced non-GAAP earnings per share (EPS) of $2.87, exceeding analysts' expectations of $2.26 by 26.99%. Revenue for the quarter reached $1.72 billion, marking a 31.5% increase year-over-year from fiscal Q2 2025 and also surpassing analyst estimates of $1.71 billion. Furthermore, the company achieved all-time highs in orders, totaling $2.051 billion (a 56% year-over-year increase), and recorded a record $472 million in free cash flow.
2. The company issued a strong fiscal 2026 outlook and positive guidance for fiscal Q3 2026. Following its strong performance in fiscal Q2 2026, Keysight raised its full-year fiscal 2026 revenue growth expectations to the high-20s percent range. For fiscal Q3 2026, Keysight projected revenue to be between $1.730 billion and $1.750 billion, representing approximately 29% year-over-year growth at the midpoint. Non-GAAP EPS for fiscal Q3 2026 is anticipated to be in the range of $2.43 to $2.49, reflecting an approximate 43% year-over-year growth at the midpoint.
3. Keysight benefited from robust growth across its key operating segments and a one-time tariff refund. The Communications Solutions Group (CSG) segment reported a 35% year-over-year revenue increase to $1.231 billion in fiscal Q2 2026, driven by 40% growth in commercial communications and 24% growth in aerospace, defense, and government. The Electronic Industrial Solutions Group (EISG) also saw strong performance, with revenue up 24% to $486 million, achieving double-digit growth across its automotive and energy, general electronics, and semiconductor end markets. Additionally, Keysight's AI-related business in the first half of fiscal 2026 already surpassed its full-year 2025 levels, reaching $500 million to $600 million. The company also recorded a $100 million receivable in fiscal Q2 2026 due to a U.S. Supreme Court ruling regarding tariff refunds.
4. Numerous analyst upgrades and raised price targets contributed to the positive sentiment. Following the fiscal Q2 2026 earnings report, multiple Wall Street analysts upgraded their ratings and increased price targets for Keysight Technologies. Notably, Wall Street Zen upgraded the stock from "buy" to "strong-buy" on July 13, 2026. Morgan Stanley raised its price target to $400 from $350 on July 13, 2026. Other firms like Truist Securities, JP Morgan, Citigroup, and Susquehanna also maintained or reiterated "buy" ratings and increased their price targets in May 2026. The consensus among analysts is a "Moderate Buy" rating, with an average price target ranging from $371.92 to $387.69.
Show less
Keysight Technologies (KEYS) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Keysight Technologies reported record-setting financial results for its fiscal Q2 2026, which ended on April 30, 2026. The company announced non-GAAP earnings per share (EPS) of $2.87, exceeding analysts' expectations of $2.26 by 26.99%. Revenue for the quarter reached $1.72 billion, marking a 31.5% increase year-over-year from fiscal Q2 2025 and also surpassing analyst estimates of $1.71 billion. Furthermore, the company achieved all-time highs in orders, totaling $2.051 billion (a 56% year-over-year increase), and recorded a record $472 million in free cash flow.
2. The company issued a strong fiscal 2026 outlook and positive guidance for fiscal Q3 2026. Following its strong performance in fiscal Q2 2026, Keysight raised its full-year fiscal 2026 revenue growth expectations to the high-20s percent range. For fiscal Q3 2026, Keysight projected revenue to be between $1.730 billion and $1.750 billion, representing approximately 29% year-over-year growth at the midpoint. Non-GAAP EPS for fiscal Q3 2026 is anticipated to be in the range of $2.43 to $2.49, reflecting an approximate 43% year-over-year growth at the midpoint.
3. Keysight benefited from robust growth across its key operating segments and a one-time tariff refund. The Communications Solutions Group (CSG) segment reported a 35% year-over-year revenue increase to $1.231 billion in fiscal Q2 2026, driven by 40% growth in commercial communications and 24% growth in aerospace, defense, and government. The Electronic Industrial Solutions Group (EISG) also saw strong performance, with revenue up 24% to $486 million, achieving double-digit growth across its automotive and energy, general electronics, and semiconductor end markets. Additionally, Keysight's AI-related business in the first half of fiscal 2026 already surpassed its full-year 2025 levels, reaching $500 million to $600 million. The company also recorded a $100 million receivable in fiscal Q2 2026 due to a U.S. Supreme Court ruling regarding tariff refunds.
4. Numerous analyst upgrades and raised price targets contributed to the positive sentiment. Following the fiscal Q2 2026 earnings report, multiple Wall Street analysts upgraded their ratings and increased price targets for Keysight Technologies. Notably, Wall Street Zen upgraded the stock from "buy" to "strong-buy" on July 13, 2026. Morgan Stanley raised its price target to $400 from $350 on July 13, 2026. Other firms like Truist Securities, JP Morgan, Citigroup, and Susquehanna also maintained or reiterated "buy" ratings and increased their price targets in May 2026. The consensus among analysts is a "Moderate Buy" rating, with an average price target ranging from $371.92 to $387.69.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 11.1% change in KEYS stock from 3/31/2026 to 7/27/2026 was primarily driven by a 7.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312026 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 282.37 | 313.68 | 11.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,677 | 6,088 | 7.2% |
| Net Income Margin (%) | 16.9% | 17.3% | 2.2% |
| P/E Multiple | 50.5 | 50.9 | 0.8% |
| Shares Outstanding (Mil) | 172 | 171 | 0.6% |
| Cumulative Contribution | 11.1% |
Market Drivers
3/31/2026 to 7/27/2026| Return | Correlation | |
|---|---|---|
| KEYS | 11.1% | |
| Market (SPY) | 13.6% | 56.4% |
| Sector (XLK) | 31.2% | 67.6% |
Fundamental Drivers
The 54.4% change in KEYS stock from 12/31/2025 to 7/27/2026 was primarily driven by a 23.8% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 203.19 | 313.68 | 54.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,375 | 6,088 | 13.3% |
| Net Income Margin (%) | 15.8% | 17.3% | 9.5% |
| P/E Multiple | 41.1 | 50.9 | 23.8% |
| Shares Outstanding (Mil) | 172 | 171 | 0.6% |
| Cumulative Contribution | 54.4% |
Market Drivers
12/31/2025 to 7/27/2026| Return | Correlation | |
|---|---|---|
| KEYS | 54.4% | |
| Market (SPY) | 8.7% | 50.5% |
| Sector (XLK) | 21.2% | 56.1% |
Fundamental Drivers
The 91.4% change in KEYS stock from 6/30/2025 to 7/27/2026 was primarily driven by a 34.0% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 163.86 | 313.68 | 91.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,108 | 6,088 | 19.2% |
| Net Income Margin (%) | 14.5% | 17.3% | 19.2% |
| P/E Multiple | 38.0 | 50.9 | 34.0% |
| Shares Outstanding (Mil) | 172 | 171 | 0.6% |
| Cumulative Contribution | 91.4% |
Market Drivers
6/30/2025 to 7/27/2026| Return | Correlation | |
|---|---|---|
| KEYS | 91.4% | |
| Market (SPY) | 20.6% | 54.9% |
| Sector (XLK) | 38.2% | 56.8% |
Fundamental Drivers
The 87.3% change in KEYS stock from 6/30/2023 to 7/27/2026 was primarily driven by a 101.5% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7272026 | Change |
|---|---|---|---|
| Stock Price ($) | 167.45 | 313.68 | 87.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,590 | 6,088 | 8.9% |
| Net Income Margin (%) | 21.1% | 17.3% | -18.0% |
| P/E Multiple | 25.3 | 50.9 | 101.5% |
| Shares Outstanding (Mil) | 178 | 171 | 4.1% |
| Cumulative Contribution | 87.3% |
Market Drivers
6/30/2023 to 7/27/2026| Return | Correlation | |
|---|---|---|
| KEYS | 87.3% | |
| Market (SPY) | 72.6% | 60.1% |
| Sector (XLK) | 104.3% | 60.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KEYS Return | 56% | -17% | -7% | 1% | 26% | 57% | 141% |
| Peers Return | 18% | -32% | 14% | 5% | 38% | 70% | 125% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| KEYS Win Rate | 75% | 50% | 50% | 50% | 67% | 57% | |
| Peers Win Rate | 57% | 37% | 55% | 57% | 60% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| KEYS Max Drawdown | -14% | -37% | -37% | -26% | -31% | -17% | |
| Peers Max Drawdown | -19% | -45% | -29% | -30% | -36% | -24% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FTV, TDY, TER, MKSI, VIAV. See KEYS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/27/2026 (YTD)
How Low Can It Go
| Event | KEYS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -31.4% | -18.8% |
| % Gain to Breakeven | 45.7% | 23.1% |
| Time to Breakeven | 213 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -12.8% | -7.8% |
| % Gain to Breakeven | 14.7% | 8.5% |
| Time to Breakeven | 12 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.5% | -9.5% |
| % Gain to Breakeven | 41.8% | 10.5% |
| Time to Breakeven | 391 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.2% | -6.7% |
| % Gain to Breakeven | 30.3% | 7.1% |
| Time to Breakeven | 664 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.6% | -24.5% |
| % Gain to Breakeven | 55.2% | 32.4% |
| Time to Breakeven | 1301 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -20.5% | -33.7% |
| % Gain to Breakeven | 25.8% | 50.9% |
| Time to Breakeven | 33 days | 140 days |
In The Past
Keysight Technologies's stock fell -31.4% during the 2025 US Tariff Shock. Such a loss loss requires a 45.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | KEYS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -31.4% | -18.8% |
| % Gain to Breakeven | 45.7% | 23.1% |
| Time to Breakeven | 213 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.5% | -9.5% |
| % Gain to Breakeven | 41.8% | 10.5% |
| Time to Breakeven | 391 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.2% | -6.7% |
| % Gain to Breakeven | 30.3% | 7.1% |
| Time to Breakeven | 664 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.6% | -24.5% |
| % Gain to Breakeven | 55.2% | 32.4% |
| Time to Breakeven | 1301 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -20.5% | -33.7% |
| % Gain to Breakeven | 25.8% | 50.9% |
| Time to Breakeven | 33 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.3% | -12.2% |
| % Gain to Breakeven | 43.4% | 13.9% |
| Time to Breakeven | 105 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -25.0% | -6.8% |
| % Gain to Breakeven | 33.4% | 7.3% |
| Time to Breakeven | 101 days | 15 days |
In The Past
Keysight Technologies's stock fell -31.4% during the 2025 US Tariff Shock. Such a loss loss requires a 45.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Keysight Technologies (KEYS)
Keysight Technologies, Inc. (KEYS) is a leading provider of electronic design and test solutions for a wide array of industries globally. The company's core business revolves around enabling engineers and organizations to accelerate innovation by designing, developing, testing, and validating electronic components, systems, and networks. Essentially, Keysight provides the crucial tools and software that ensure modern electronics and communication technologies function correctly and meet performance standards.
The company's product portfolio is extensive, spanning two main segments. Its Communications Solutions Group offers sophisticated electronic design automation (EDA) software, radio frequency and microwave test solutions, and advanced platforms for testing network infrastructure, cybersecurity, and optical components. Meanwhile, the Electronic Industrial Solutions Group provides a broad range of general-purpose and specialized test and measurement instruments, including digital multimeters, power supplies, thermal imagers, and precise tools for semiconductor and printed circuit board assembly testing, alongside design verification tools.
Keysight serves a diverse and critical customer base across the Americas, Europe, and Asia Pacific. Its primary markets include commercial communications (e.g., 5G development), networking, aerospace, defense and government, automotive, energy, and the semiconductor industry. The company also supports the broader electronics sector and educational institutions, offering product support, technical assistance, and consulting services.
AI Analysis | Feedback
Here are 1-2 brief analogies for Keysight Technologies:
- Like Thermo Fisher Scientific, but for the electronics and communication industries. (Keysight provides essential, high-precision tools, software, and services for designing, testing, and verifying electronic products, similar to how Thermo Fisher equips scientific and medical research.)
- Like AWS (Amazon Web Services), but for validating and testing physical electronic products and communication networks. (Keysight provides the critical, complex infrastructure and tools that companies use to ensure their electronic hardware and communication systems work correctly, much like AWS provides cloud infrastructure.)
AI Analysis | Feedback
- Electronic Design Automation (EDA) Software: Provides software for designing electronic components and systems.
- RF and Microwave Test Solutions: Offers hardware and software for testing radio frequency and microwave devices.
- Network Test Platforms and Software: Supplies platforms and applications for testing data center, routing, switching, SDN, security, and encryption networks.
- General Purpose Test Equipment: Includes oscilloscopes, logic analyzers, signal sources, waveform generators, and bit error rate testers.
- Optical Test Solutions: Provides tools like optical modulation analyzers, component analyzers, power meters, and laser sources.
- Electronic Industrial Design and Verification Tools: Offers software and hardware for designing and verifying electronic industrial products.
- Benchtop Measurement Instruments: Encompasses digital multimeters, function generators, frequency counters, data acquisition systems, and LCR meters.
- Power Supplies and Loads: Manufactures AC/DC modular power supplies and electronically programmable loads.
- Specialized Industrial Testers: Includes printed-circuit-board-assembly testers and integrated circuit parametric testers.
- Product Support Services: Provides ongoing assistance and maintenance for its products.
- Technical Support Services: Offers expert help for technical issues and product usage.
- Training and Consulting Services: Delivers educational programs and advisory services related to its solutions.
AI Analysis | Feedback
Major Customers of Keysight Technologies (KEYS)
Keysight Technologies, Inc. primarily sells its electronic design and test solutions to other companies and organizations, operating on a business-to-business (B2B) model. The provided company description indicates that it serves a broad range of industries and sectors rather than individual consumers.
The background information does not specify individual major customer companies by name or symbol. However, it clearly identifies the following industries and sectors as Keysight's primary customer base:
- Commercial Communications Industry
- Networking Industry
- Aerospace Industry
- Defense and Government Sector
- Automotive Industry
- Energy Industry
- Semiconductor Industry
- Electronic Industry (general)
- Education Industry
AI Analysis | Feedback
null
AI Analysis | Feedback
```html
```
Satish Dhanasekaran, President and Chief Executive Officer
Satish Dhanasekaran became Keysight's President and Chief Executive Officer in May 2022. He joined Agilent, Keysight's predecessor company, in 2006. During his tenure, he has held multiple leadership roles, including senior vice president and chief operating officer, and president of Keysight's Communications Solutions Group. He has been instrumental in shaping the company's strategy and establishing Keysight's leadership in 5G, as well as making significant contributions to accelerate technology adoptions in areas such as 400G, quantum, and electromagnetic spectrum operations.
Neil Dougherty, Executive Vice President and Chief Financial Officer
Neil Dougherty is the Executive Vice President and Chief Financial Officer of Keysight Technologies, responsible for the company's global finance operations, including tax, treasury, and investor relations. Before Keysight's separation from Agilent Technologies in 2014, he held various roles at Agilent, including assistant treasurer, vice president, and treasurer. He also served as senior director of corporate development, where he was responsible for domestic and international acquisitions and divestitures. Dougherty joined Agilent in 1996 as a Financial Analyst and held numerous finance management positions at Hewlett-Packard, Agilent's predecessor.
Jason Kary, Senior Vice President and President, Electronic Industrial Solutions Group
Jason Kary is the Senior Vice President and President of the Electronic Industrial Solutions Group at Keysight Technologies. He leads a global business valued at approximately $2 billion, which serves the automotive, energy, general electronics, manufacturing, education, and semiconductor industries. Kary brings nearly three decades of industry experience and has held various finance leadership positions in markets including wireless communications, electronic industrial, and life sciences. He previously served as Keysight's treasurer and head of investor relations, and prior to that, was the group chief financial officer for Agilent's Life Sciences Group.
Kailash Narayanan, Senior Vice President and President, Communications Solutions Group
Kailash Narayanan is the Senior Vice President and President of Keysight's Communications Solutions Group. In this role, he leads a multi-billion dollar global business focused on the end-to-end communications industry, encompassing wireless and wireline segments, as well as aerospace and defense. His team has significantly contributed to accelerating technology adoptions in areas such as 5G, 400/800G, electromagnetic spectrum operations, and space and satellite modernization. Narayanan's tenure with Keysight and its predecessors, Agilent and Hewlett-Packard, spans more than 20 years.
Ingrid Estrada, Senior Vice President and Chief Supply Chain and Operations Officer
Ingrid Estrada is the Senior Vice President and Chief Supply Chain and Operations Officer at Keysight Technologies. She leads the global team responsible for Keysight's corporate infrastructure and operations, focusing on aligning supply chain strategies with business objectives to enhance operational efficiency and customer satisfaction. Estrada has held leadership roles in HR, supply chain, manufacturing, and sourcing across HP, Agilent, and Keysight. Her previous roles include senior vice president of Human Resources and vice president and general manager of Global Sourcing and the Remarketing Solutions Division at Agilent.
AI Analysis | Feedback
Key Risks to Keysight Technologies (KEYS)
- Risk of technological obsolescence due to rapid advancements in served industries. Keysight Technologies operates in dynamic sectors such as commercial communications, networking, semiconductors, and automotive, which are characterized by swift technological evolution. The company's core business of providing electronic design and test solutions, including EDA software, RF/microwave test solutions, and advanced analyzers, necessitates continuous innovation to meet the demands of evolving industry standards (e.g., next-generation wireless technologies, advanced semiconductor designs, complex automotive electronics). A failure to rapidly develop and deliver cutting-edge solutions could render its products and services obsolete, impacting demand.
- Exposure to cyclical capital expenditures of high-tech industries. Keysight Technologies serves a range of industries like aerospace, defense, government, automotive, and semiconductors, which can be sensitive to macroeconomic conditions and investment cycles. Demand for the company's test and measurement equipment and software often correlates with the research and development (R&D) and capital expenditure budgets of its customers. During economic downturns or industry-specific slowdowns, reduced spending by these customers on new projects and infrastructure can directly diminish sales of Keysight's solutions.
- Intense competition in the electronic design and test solutions market. The market for electronic design automation (EDA) software and sophisticated test and measurement equipment is specialized yet competitive. Keysight Technologies faces competition in various segments, including network test platforms, oscilloscopes, signal generators, and optical solutions. Maintaining market share and profitability requires sustained investment in research and development, effective product differentiation, and competitive pricing strategies. Failure to effectively compete on technology, features, or cost could lead to a loss of market position.
AI Analysis | Feedback
null
AI Analysis | Feedback
Keysight Technologies (symbol: KEYS) operates in several significant addressable markets globally, providing electronic design and test solutions.
Here are the estimated market sizes for Keysight's main products and services:
* Electronic Design Automation (EDA) Software Market: The global electronic design automation (EDA) tools market was valued at approximately USD 12.72 billion in 2024 and is projected to reach USD 21.93 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 11.88% during the forecast period. Another report estimates the global EDA market at US$ 17.59 billion in 2025, anticipated to rise to US$ 32.88 billion by 2032 with a CAGR of 9.4%.
* Test and Measurement Equipment Market (Overall): The global test and measurement equipment market was estimated at USD 35.31 billion in 2025 and is projected to reach USD 50.63 billion by 2033, demonstrating a CAGR of 4.8% from 2026 to 2033. Other estimates place the global market size at USD 37.62 billion in 2025, reaching USD 58.66 billion by 2035 with a CAGR of 4.54%, or USD 38.06 billion in 2025, projected to reach USD 62.55 billion by 2034 with a 5.70% CAGR.
* Oscilloscope Market: The global oscilloscope market was valued at approximately USD 2.5 billion in 2025 and is estimated to reach USD 3.5 billion by 2034, with a CAGR of 3.86% from 2026-2034. Another source indicates the global oscilloscope market size was USD 2.68 billion in 2025 and is projected to grow to USD 5.15 billion by 2034, exhibiting a CAGR of 7.6%. The digital storage oscilloscope market, a segment within this, was valued at USD 921.66 million in 2025 and is projected to reach USD 1548.42 million by 2033.
* Radio Frequency (RF) Test Equipment Market: The global RF test equipment market was valued at USD 3.9 billion in 2024 and is estimated to grow to USD 7.3 billion by 2034, at a CAGR of 6.5%. Another analysis estimates the RF test equipment market at USD 4.27 billion in 2026, projected to reach USD 5.79 billion by 2031 with a 6.28% CAGR.
* Network Monitoring and Performance Monitoring Market: The global network performance monitoring market was valued at USD 2.1 billion in 2021 and is projected to reach USD 4.2 billion by 2031, with a CAGR of 7.1%. More recently, the global network monitoring market was valued at USD 4.13 billion in 2025 and is projected to reach USD 9.52 billion by 2034, exhibiting a CAGR of 9.50%.
* Semiconductor Test Equipment Market: The global semiconductor test equipment market size was valued at USD 7.65 billion in 2025 and is projected to grow to USD 14.38 billion by 2034, exhibiting a CAGR of 7.35%. Another report estimated the market size at USD 15.06 billion in 2025, reaching USD 21.59 billion by 2031 with a CAGR of 6.12%. The Semiconductor Automated Test Equipment (ATE) market, a key segment, was valued at USD 5.46 billion in 2024 and is expected to reach USD 8.35 billion by 2032 globally.
* Optical Test Equipment Market: The global optical test equipment market size was valued at USD 1.04 billion in 2024 and is expected to reach USD 1.46 billion by 2032, with a CAGR of 4.42%. Within this, the global fiber optic test equipment market is set to be worth USD 2.1 billion in 2026 and reach USD 3.4 billion by 2036, witnessing a 4.9% CAGR.
AI Analysis | Feedback
Keysight Technologies (KEYS) is expected to drive future revenue growth over the next 2-3 years through several key areas:
- AI Infrastructure Scaling and High-Speed Connectivity: Keysight anticipates sustained demand fueled by the rapid scaling of AI infrastructure. This includes growth in higher speeds for Ethernet-based AI networking, such as 800G and 1.6T, the increasing adoption of optical interconnects, and the critical need for system-level validation in complex AI clusters.
- Defense Modernization and Aerospace/Defense Sector Growth: Heightened global focus on deterrence and defense modernization priorities is driving record orders and revenue growth in Keysight's Aerospace, Defense, and Government (ADG) segment across all regions. This growth stems from program expansions, production automation, and new system deployments for spectrum operations, space and satellite, and radar applications.
- Next-Generation Connectivity Development: Beyond AI-specific networking, Keysight benefits from advancements in next-generation connectivity. This includes ongoing research and initiatives for 6G technology, as well as demand related to non-terrestrial networks. The company has also seen consistent wireline growth driven by R&D and manufacturing solutions for compute, memory, interconnect, and networking technologies.
- Rising Semiconductor Complexity and General Electronics: Increased complexity in semiconductors continues to drive demand for Keysight's design and test solutions. The Electronic Industrial Solutions Group (EISG) is experiencing growth across its semiconductor, general electronics, and automotive markets.
- Strategic Acquisitions and Expanding Software/Services Portfolio: Recent successful acquisitions, such as Spirent and the Optical Solutions Group, are contributing to Keysight's revenue growth and expanding its communications test and design software capabilities. Additionally, a growing mix of software and services, which accounts for approximately 40% of Keysight's revenue, with annual recurring revenue at 29%, provides a more resilient and higher-margin revenue stream.
AI Analysis | Feedback
Share Repurchases
- Keysight Technologies authorized a new share repurchase program of up to $1.5 billion of its common stock in November 2025.
- The company repurchased approximately $375 million through buybacks in fiscal year 2025.
- Keysight has repurchased over $1.5 billion of shares since the start of 2023, with $702 million of annual share buybacks in 2023 alone.
Outbound Investments
- In March 2024, Keysight Technologies acquired British telecommunications testing company Spirent for approximately $1.5 billion, although the U.S. Department of Justice required the divestment of three of Spirent's businesses due to antitrust concerns.
- Keysight acquired France-based ESI Group for approximately $1 billion in 2023, enhancing its simulation capabilities in automotive and electronics markets.
- The company completed the acquisitions of Synopsys' Optical Solutions Group and Ansys' PowerArtist in October 2025, expanding its design engineering software portfolio and computer-aided engineering capabilities.
Capital Expenditures
- Capital expenditures were approximately $130 million in fiscal year 2025.
- Capital expenditures were approximately $140 million in fiscal year 2024.
- Capital expenditures were approximately $200 million in fiscal year 2023.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 314.69 |
| Mkt Cap | 25.7 |
| Rev LTM | 4,405 |
| Op Inc LTM | 914 |
| FCF LTM | 791 |
| FCF 3Y Avg | 771 |
| CFO LTM | 927 |
| CFO 3Y Avg | 925 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.3% |
| Rev Chg 3Y Avg | 4.4% |
| Rev Chg Q | 23.3% |
| QoQ Delta Rev Chg LTM | 5.4% |
| Op Inc Chg LTM | 20.8% |
| Op Inc Chg 3Y Avg | 4.3% |
| Op Mgn LTM | 17.5% |
| Op Mgn 3Y Avg | 17.6% |
| QoQ Delta Op Mgn LTM | 1.3% |
| CFO/Rev LTM | 20.2% |
| CFO/Rev 3Y Avg | 21.2% |
| FCF/Rev LTM | 16.3% |
| FCF/Rev 3Y Avg | 17.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Communications Solutions Group (CSG) | 3,726 | 3,420 | 3,685 | 3,803 | 3,523 |
| Electronic Industrial Solutions Group (EISG) | 1,649 | 1,559 | 1,779 | 1,617 | 1,418 |
| Total | 5,375 | 4,979 | 5,464 | 5,420 | 4,941 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Communications Solutions Group (CSG) | 986 | 921 | 1,068 | 1,085 | 932 |
| Electronic Industrial Solutions Group (EISG) | 407 | 357 | 581 | 501 | 444 |
| Restructuring and other | -48 | -70 | -52 | -14 | -9 |
| Amortization of acquisition-related balances | -141 | -139 | -90 | -103 | -174 |
| Acquisition and integration costs | -152 | -91 | -13 | -9 | -9 |
| Share-based compensation | -176 | -145 | -136 | -126 | -104 |
| Total | 876 | 833 | 1,358 | 1,334 | 1,080 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Communications Solutions Group (CSG) | 6,144 | 4,721 | 4,410 | 4,312 | 4,122 |
| Electronic Industrial Solutions Group (EISG) | 3,524 | 2,952 | 1,920 | 1,715 | 1,523 |
| Cash and cash equivalents | 1,873 | 1,796 | 2,472 | 2,042 | 2,052 |
| Pension and other assets | 644 | 540 | 468 | 549 | 449 |
| Long-term deferred tax assets | 373 | 378 | 671 | 667 | 711 |
| Long-term investments | 211 | 110 | 81 | 62 | 70 |
| Tax receivables | 146 | 249 | |||
| Accumulated amortization of other intangibles | -1,614 | -1,477 | -1,339 | -1,249 | -1,146 |
| Total | 11,301 | 9,269 | 8,683 | 8,098 | 7,781 |
Price Behavior
Price Behavior
| Market Price | $313.68 | |
| Market Cap ($ Bil) | 53.6 | |
| First Trading Date | 10/20/2014 | |
| Distance from 52W High | -16.0% | |
| 50 Days | 200 Days | |
| DMA Price | $333.43 | $265.24 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -5.9% | 18.3% |
| 3M | 1YR | |
| Volatility | 44.4% | 42.6% |
| Downside Capture | 272.82 | 173.07 |
| Upside Capture | 192.90 | 217.34 |
| Correlation (SPY) | 57.1% | 55.0% |
KEYS Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.07 | 1.92 | 1.78 | 1.83 | 1.82 | 1.41 |
| Up Beta | 1.45 | 1.63 | 1.64 | 1.63 | 1.76 | 1.31 |
| Down Beta | 1.78 | 1.32 | 1.66 | 1.49 | 1.71 | 1.40 |
| Up Capture | 297% | 211% | 204% | 352% | 380% | 365% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 21 | 38 | 72 | 146 | 400 |
| Down Capture | 193% | 232% | 190% | 143% | 136% | 108% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 20 | 25 | 53 | 104 | 348 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KEYS | |
|---|---|---|---|---|
| KEYS | 89.9% | 42.4% | 1.61 | - |
| Sector ETF (XLK) | 34.1% | 24.8% | 1.13 | 57.2% |
| Equity (SPY) | 17.6% | 12.7% | 1.00 | 54.8% |
| Gold (GLD) | 20.8% | 28.1% | 0.66 | 16.3% |
| Commodities (DBC) | 29.6% | 19.5% | 1.21 | -0.1% |
| Real Estate (VNQ) | 13.9% | 14.1% | 0.69 | 12.3% |
| Bitcoin (BTCUSD) | -46.0% | 43.0% | -1.31 | 21.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KEYS | |
|---|---|---|---|---|
| KEYS | 15.6% | 33.6% | 0.49 | - |
| Sector ETF (XLK) | 19.5% | 25.6% | 0.68 | 66.0% |
| Equity (SPY) | 13.2% | 17.1% | 0.59 | 65.3% |
| Gold (GLD) | 17.2% | 18.4% | 0.75 | 12.0% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 11.4% |
| Real Estate (VNQ) | 3.3% | 18.9% | 0.07 | 42.4% |
| Bitcoin (BTCUSD) | 15.8% | 53.5% | 0.47 | 28.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KEYS | |
|---|---|---|---|---|
| KEYS | 27.1% | 32.5% | 0.81 | - |
| Sector ETF (XLK) | 24.0% | 24.8% | 0.88 | 66.4% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 64.8% |
| Gold (GLD) | 11.4% | 16.1% | 0.58 | 5.8% |
| Commodities (DBC) | 6.9% | 18.0% | 0.30 | 17.9% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 41.4% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 17.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/23/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/19/2026 | -0.6% | 1.0% | 5.7% |
| 2/23/2026 | 23.1% | 27.9% | 21.9% |
| 11/24/2025 | 10.0% | 16.3% | 16.4% |
| 8/19/2025 | -3.0% | 0.6% | 8.4% |
| 5/20/2025 | -0.2% | -2.6% | -2.1% |
| 2/25/2025 | -6.9% | -11.1% | -9.2% |
| 11/19/2024 | 8.8% | 13.0% | 5.1% |
| 8/20/2024 | 13.9% | 11.2% | 12.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 13 |
| # Negative | 13 | 10 | 11 |
| Median Positive | 5.9% | 4.7% | 8.4% |
| Median Negative | -4.0% | -6.3% | -6.6% |
| Max Positive | 23.1% | 27.9% | 21.9% |
| Max Negative | -13.8% | -14.9% | -15.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/19/2026 | -0.6% | 1.0% | 5.7% |
| 2/23/2026 | 23.1% | 27.9% | 21.9% |
| 11/24/2025 | 10.0% | 16.3% | 16.4% |
| 8/19/2025 | -3.0% | 0.6% | 8.4% |
| 5/20/2025 | -0.2% | -2.6% | -2.1% |
| 2/25/2025 | -6.9% | -11.1% | -9.2% |
| 11/19/2024 | 8.8% | 13.0% | 5.1% |
| 8/20/2024 | 13.9% | 11.2% | 12.1% |
| 5/20/2024 | -8.4% | -10.8% | -15.2% |
| 2/20/2024 | -6.7% | -1.1% | -2.4% |
| 11/20/2023 | -0.3% | 1.0% | 16.1% |
| 8/17/2023 | -13.8% | -14.9% | -11.5% |
| 5/16/2023 | 7.6% | 7.5% | 12.9% |
| 2/21/2023 | -12.7% | -12.6% | -15.4% |
| 11/17/2022 | 3.5% | 6.4% | 3.2% |
| 8/17/2022 | 5.9% | 0.9% | -2.3% |
| 5/17/2022 | -3.1% | -1.1% | -6.6% |
| 2/17/2022 | -3.0% | -3.3% | -3.2% |
| 11/22/2021 | 1.7% | 1.3% | 4.5% |
| 8/18/2021 | 1.9% | 6.7% | 8.4% |
| 5/19/2021 | 2.1% | 2.3% | 6.8% |
| 2/18/2021 | -4.0% | -5.7% | -9.0% |
| 11/18/2020 | 2.4% | 2.9% | 11.4% |
| 8/20/2020 | -6.7% | -7.0% | -4.9% |
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 13 |
| # Negative | 13 | 10 | 11 |
| Median Positive | 5.9% | 4.7% | 8.4% |
| Median Negative | -4.0% | -6.3% | -6.6% |
| Max Positive | 23.1% | 27.9% | 21.9% |
| Max Negative | -13.8% | -14.9% | -15.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/04/2026 | 10-Q |
| 01/31/2026 | 03/05/2026 | 10-Q |
| 10/31/2025 | 12/17/2025 | 10-K |
| 07/31/2025 | 08/29/2025 | 10-Q |
| 04/30/2025 | 06/03/2025 | 10-Q |
| 01/31/2025 | 03/06/2025 | 10-Q |
| 10/31/2024 | 12/17/2024 | 10-K |
| 07/31/2024 | 08/29/2024 | 10-Q |
| 04/30/2024 | 05/31/2024 | 10-Q |
| 01/31/2024 | 03/05/2024 | 10-Q |
| 10/31/2023 | 12/15/2023 | 10-K |
| 07/31/2023 | 08/30/2023 | 10-Q |
| 04/30/2023 | 05/31/2023 | 10-Q |
| 01/31/2023 | 03/03/2023 | 10-Q |
| 10/31/2022 | 12/15/2022 | 10-K |
| 07/31/2022 | 08/30/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/04/2026 | 10-Q |
| 01/31/2026 | 03/05/2026 | 10-Q |
| 10/31/2025 | 12/17/2025 | 10-K |
| 07/31/2025 | 08/29/2025 | 10-Q |
| 04/30/2025 | 06/03/2025 | 10-Q |
| 01/31/2025 | 03/06/2025 | 10-Q |
| 10/31/2024 | 12/17/2024 | 10-K |
| 07/31/2024 | 08/29/2024 | 10-Q |
| 04/30/2024 | 05/31/2024 | 10-Q |
| 01/31/2024 | 03/05/2024 | 10-Q |
| 10/31/2023 | 12/15/2023 | 10-K |
| 07/31/2023 | 08/30/2023 | 10-Q |
| 04/30/2023 | 05/31/2023 | 10-Q |
| 01/31/2023 | 03/03/2023 | 10-Q |
| 10/31/2022 | 12/15/2022 | 10-K |
| 07/31/2022 | 08/30/2022 | 10-Q |
| 04/30/2022 | 06/01/2022 | 10-Q |
| 01/31/2022 | 03/01/2022 | 10-Q |
| 10/31/2021 | 12/17/2021 | 10-K |
| 07/31/2021 | 08/31/2021 | 10-Q |
| 04/30/2021 | 05/28/2021 | 10-Q |
| 01/31/2021 | 03/03/2021 | 10-Q |
| 10/31/2020 | 12/17/2020 | 10-K |
| 07/31/2020 | 09/01/2020 | 10-Q |
| 04/30/2020 | 06/02/2020 | 10-Q |
| 01/31/2020 | 03/05/2020 | 10-Q |
| 10/31/2019 | 12/18/2019 | 10-K |
| 07/31/2019 | 08/30/2019 | 10-Q |
Recent Forward Guidance
Updated 7/8/2026Latest: Q2 2026 Earnings Reported 5/19/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 1.73 Bil | 1.74 Bil | 1.75 Bil | 2.4% | Higher New | Guidance: 1.70 Bil for Q2 2026 | |
| Q3 2026 Non-GAAP EPS | 2.43 | 2.46 | 2.49 | 7.0% | Higher New | Guidance: 2.3 for Q2 2026 | |
Prior: Q1 2026 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 1.69 Bil | 1.70 Bil | 1.71 Bil | 10.4% | Higher New | Guidance: 1.54 Bil for Q1 2026 | |
| Q2 2026 Non-GAAP EPS | 2.27 | 2.3 | 2.33 | 16.2% | Higher New | Guidance: 1.98 for Q1 2026 | |
Q4 2025 Earnings Reported 11/24/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 1.53 Bil | 1.54 Bil | 1.55 Bil | 11.6% | Higher New | Actual: 1.38 Bil for Q4 2025 | |
| Q1 2026 Non-GAAP EPS | 1.95 | 1.98 | 2.01 | 8.8% | Higher New | Actual: 1.82 for Q4 2025 | |
Insider Activity
Updated 7/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Estrada, Ingrid A | SVP | Direct | Sell | 7022026 | 340.87 | 2,000 | 681,740 | 36,084,904 | Form |
| 2 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 6292026 | 361.32 | 507 | 183,189 | 43,860,844 | Form |
| 3 | Cullen, James | Direct | Sell | 6042026 | 346.58 | 3,000 | 1,039,741 | 7,562,729 | Form | |
| 4 | Hamada, Richard P | Direct | Sell | 4012026 | 275.78 | 870 | 239,929 | 11,627,000 | Form | |
| 5 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 3262026 | 300.00 | 1,667 | 500,100 | 36,719,273 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Estrada, Ingrid A | SVP | Direct | Sell | 7022026 | 340.87 | 2,000 | 681,740 | 36,084,904 | Form |
| 2 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 6292026 | 361.32 | 507 | 183,189 | 43,860,844 | Form |
| 3 | Cullen, James | Direct | Sell | 6042026 | 346.58 | 3,000 | 1,039,741 | 7,562,729 | Form | |
| 4 | Hamada, Richard P | Direct | Sell | 4012026 | 275.78 | 870 | 239,929 | 11,627,000 | Form | |
| 5 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 3262026 | 300.00 | 1,667 | 500,100 | 36,719,273 | Form |
| 6 | Li, Jeffrey K | SVP and Secretary | Direct | Sell | 3262026 | 297.19 | 2,000 | 594,380 | 10,252,801 | Form |
| 7 | Dougherty, Neil | EVP and CFO | Direct | Sell | 3262026 | 298.37 | 2,000 | 596,740 | 37,377,493 | Form |
| 8 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 3232026 | 290.00 | 1,667 | 483,430 | 35,978,728 | Form |
| 9 | Nersesian, Ronald S | Direct | Sell | 3192026 | 285.96 | 30,000 | 8,578,920 | 46,719,866 | Form | |
| 10 | Juskie, Jo Ann | SVP | Direct | Sell | 3032026 | 304.42 | 1,000 | 304,423 | 3,821,032 | Form |
| 11 | Estrada, Ingrid A | SVP | Direct | Sell | 2242026 | 237.68 | 2,000 | 475,360 | 25,636,448 | Form |
| 12 | Yoon, Sung | SVP | Direct | Sell | 1022026 | 206.66 | 889 | 183,678 | 3,503,512 | Form |
| 13 | Dougherty, Neil | EVP and CFO | Direct | Sell | 12292025 | 203.72 | 1,000 | 203,719 | 26,042,053 | Form |
| 14 | Page, John | SVP | Direct | Sell | 12122025 | 213.48 | 15,000 | 3,202,185 | 4,566,871 | Form |
| 15 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 12112025 | 211.43 | 4,230 | 894,349 | 27,090,791 | Form |
| 16 | Li, Jeffrey K | SVP and Secretary | Direct | Sell | 12052025 | 200.84 | 3,934 | 790,105 | 7,370,656 | Form |
| 17 | Page, John | SVP | Direct | Sell | 12032025 | 196.42 | 3,175 | 623,634 | 7,148,234 | Form |
| 18 | Estrada, Ingrid A | SVP | Direct | Sell | 12032025 | 196.42 | 4,827 | 948,119 | 21,621,754 | Form |
| 19 | Dhanasekaran, Satish | President and CEO | Direct | Sell | 12032025 | 196.42 | 12,528 | 2,460,750 | 25,998,398 | Form |
| 20 | Narayanan, Kailash | SVP | Direct | Sell | 12032025 | 196.42 | 3,201 | 628,740 | 8,626,177 | Form |
| 21 | Nersesian, Ronald S | Direct | Sell | 12022025 | 196.88 | 30,000 | 5,906,310 | 39,058,243 | Form | |
| 22 | Estrada, Ingrid A | SVP | Direct | Sell | 9192025 | 173.98 | 2,000 | 347,960 | 18,544,561 | Form |
| 23 | Poole, Lisa M | VP and Controller | Direct | Sell | 9192025 | 173.56 | 142 | 24,646 | 806,360 | Form |
| 24 | Dougherty, Neil | EVP and CFO | Direct | Sell | 7022025 | 164.60 | 12,215 | 2,010,591 | 18,966,586 | Form |
Investor Activity (13F)
Updated Jul 28, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Highlander Partners, L.P. | $22.4 Mil | 8.8% | 47 | Hold | 13F |
| Weybosset Research & Management LLC | $28.7 Mil | 8.3% | 33 | Hold | 13F |
| Science & Technology Partners, L.P. | $24.4 Mil | 6.4% | 42 | New | 13F |
| Talos Eurisko Asset Management LP | $36.9 Mil | 6.3% | 23 | ADD +43.9% | 13F |
| Styrax Capital, LP | $70.6 Mil | 4.9% | 17 | New | 13F |
| Central Securities Corp | $56.5 Mil | 4.7% | 30 | Hold | 13F |
| Oribel Capital Management, LP | $29.9 Mil | 4.6% | 41 | TRIM -10.1% | 13F |
| Firetrail Investments PTY LTD | $10.9 Mil | 3.7% | 28 | ADD +5.1% | 13F |
| WT Asset Management Ltd | $163.0 Mil | 3.4% | 32 | New | 13F |
| Iyo Bank, Ltd. | $8.7 Mil | 3.1% | 35 | Hold | 13F |
| Cartenna Capital, LP | $53.7 Mil | 2.3% | 41 | TRIM -45.7% | 13F |
| Electron Capital Partners, LLC | $46.6 Mil | 2.2% | 44 | Hold | 13F |
| Tairen Capital Ltd | $14.2 Mil | 1.5% | 44 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| WT Asset Management Ltd | $163.0 Mil | 3.4% | 32 | New | 13F |
| Styrax Capital, LP | $70.6 Mil | 4.9% | 17 | New | 13F |
| Science & Technology Partners, L.P. | $24.4 Mil | 6.4% | 42 | New | 13F |
| Tairen Capital Ltd | $14.2 Mil | 1.5% | 44 | New | 13F |
| Talos Eurisko Asset Management LP | $36.9 Mil | 6.3% | 23 | ADD +43.9% | 13F |
| Firetrail Investments PTY LTD | $10.9 Mil | 3.7% | 28 | ADD +5.1% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Blue Grotto Capital, LLC | $47.8 Mil | 4.9% | 24 | Exited | Dec 31, 2025 | 13F |
| CloudAlpha Capital Management Limited/Hong Kong | $8.8 Mil | 0.8% | 43 | Exited | Dec 31, 2025 | 13F |
| Benson Investment Management Company, Inc. | $6.4 Mil | 2.2% | 50 | Exited | Dec 31, 2025 | 13F |
| Cartenna Capital, LP | $53.7 Mil | 2.3% | 41 | TRIM -45.7% | Mar 31, 2026 | 13F |
| Oribel Capital Management, LP | $29.9 Mil | 4.6% | 41 | TRIM -10.1% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| WT Asset Management Ltd | $163.0 Mil | 3.4% | 32 | New | 13F |
| Styrax Capital, LP | $70.6 Mil | 4.9% | 17 | New | 13F |
| Central Securities Corp | $56.5 Mil | 4.7% | 30 | Hold | 13F |
| Cartenna Capital, LP | $53.7 Mil | 2.3% | 41 | TRIM -45.7% | 13F |
| Electron Capital Partners, LLC | $46.6 Mil | 2.2% | 44 | Hold | 13F |
| Talos Eurisko Asset Management LP | $36.9 Mil | 6.3% | 23 | ADD +43.9% | 13F |
| Oribel Capital Management, LP | $29.9 Mil | 4.6% | 41 | TRIM -10.1% | 13F |
| Weybosset Research & Management LLC | $28.7 Mil | 8.3% | 33 | Hold | 13F |
| Science & Technology Partners, L.P. | $24.4 Mil | 6.4% | 42 | New | 13F |
| Highlander Partners, L.P. | $22.4 Mil | 8.8% | 47 | Hold | 13F |
| Tairen Capital Ltd | $14.2 Mil | 1.5% | 44 | New | 13F |
| Firetrail Investments PTY LTD | $10.9 Mil | 3.7% | 28 | ADD +5.1% | 13F |
| Iyo Bank, Ltd. | $8.7 Mil | 3.1% | 35 | Hold | 13F |
Keysight Technologies — Investor Video Playlist
Products & Services
Introducing Keysight High-Power ATE System Power Supplies
Products & Services
Keysight C V2X: Real World Simulation for EVs
Products & Services
Keysight's 5G Race Solution Signal Generator & Analyzer
Products & Services
Power Grid Challenges: Aging Infrastructure & New Loads
Products & Services
6G's Secret Weapon: Heterogeneous Integration Revealed!
Products & Services
Keysight's Cybersecurity Secrets for Faster Innovation
Products & Services
How to Prevent Costly 400G & 800G Network Failures with Rigorous Testing
Products & Services
New Tech Unveiled: Data Center's Secret Tool is Here
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Electronic Equipment & Instruments Resources |
| EDN |
| Electronic Design |
| EE Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 7/27/2026