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Keysight (KEYS)

Keysight Technologies, Inc. (NYSE: KEYS) is a leading technology company that helps enterprises, service providers and governments accelerate innovation to connect and secure the world. Keysight's solutions optimize networks and bring electronic products to market faster and at a lower cost with offerings from design simulation, to prototype validation, to manufacturing test, to optimization in networks and cloud environments. Customers span the worldwide communications ecosystem, aerospace and defense, automotive, energy, semiconductor and general electronics end markets. Keysight generated revenues of $4.2B in fiscal year 2020.

Company profile

Ticker
KEYS
Exchange
CEO
Ronald S. Nersesian
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Keysight Technologies Netherlands B.V. • Keysight Technologies Luxembourg Holdings Sarl • Keysight Technologies Singapore (Holdings) Pte. Ltd. • Keysight Technologies Singapore (International) Pte. Ltd. • Keysight Technologies Singapore (Sales) Pte. Ltd. • Keysight Technologies World Trade, Inc. • Keysight Technologies UK Limited • Ixia Technologies International Limited • Catapult Communications Corporation ...

KEYS stock data

Calendar

30 Aug 22
28 Sep 22
31 Oct 22
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Oct 21 Oct 20 Oct 19 Oct 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.86B 1.86B 1.86B 1.86B 1.86B 1.86B
Cash burn (monthly) 12.33M 25.58M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 23.7M 49.17M n/a n/a n/a n/a
Cash remaining 1.84B 1.81B n/a n/a n/a n/a
Runway (months of cash) 149.1 70.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 Li Jeffrey K Common Stock Payment of exercise Dispose F No No 136.15 380 51.74K 19,841.568
30 Jun 22 Kevin A Stephens Common Stock Buy Acquire P No No 136.91 500 68.46K 3,626
9 Jun 22 Kevin A Stephens Common Stock Buy Acquire P No No 145.4 500 72.7K 3,126
6 Jun 22 Hamada Richard P Common Stock Sell Dispose S No No 150 1,626 243.9K 42,160.266
18 May 22 Dhanasekaran Satish Common Stock Grant Acquire A No No 0 4,026 0 71,711.255
13F holders Current Prev Q Change
Total holders 797 827 -3.6%
Opened positions 78 88 -11.4%
Closed positions 108 142 -23.9%
Increased positions 288 309 -6.8%
Reduced positions 287 300 -4.3%
13F shares Current Prev Q Change
Total value 19.93B 23.19B -14.0%
Total shares 144.62M 147.01M -1.6%
Total puts 246.1K 307.3K -19.9%
Total calls 245.82K 484.36K -49.2%
Total put/call ratio 1.0 0.6 +57.8%
Largest owners Shares Value Change
Vanguard 20.59M $2.84B +1.2%
BLK Blackrock 17.21M $2.37B -5.6%
STT State Street 7.92M $1.09B -2.7%
TROW T. Rowe Price 5.6M $771.36M -1.3%
MKFCF Mackenzie Financial 4.15M $572.1M +4.0%
JPM JPMorgan Chase & Co. 3.73M $514.74M +35.8%
Geode Capital Management 3.5M $481.74M -0.0%
NTRS Northern Trust 2.25M $309.68M -3.4%
Ninety One UK 2.18M $301M -3.7%
ATAC Neuberger Berman 1.96M $271.26M +1.3%
Largest transactions Shares Bought/sold Change
BLK Blackrock 17.21M -1.03M -5.6%
JPM JPMorgan Chase & Co. 3.73M +983.52K +35.8%
MNGPF Man 0 -912.43K EXIT
Parametric Portfolio Associates 0 -760.45K EXIT
FMR 1.19M -744.62K -38.5%
MS Morgan Stanley 1.54M +648.07K +72.6%
Alphinity Investment Management Pty 1.39M +501.15K +56.6%
Assenagon Asset Management 508.38K +422.54K +492.2%
Envestnet Asset Management 272.13K -332.69K -55.0%
APG Asset Management 1.37M -324.42K -19.2%

Financial report summary

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Risks
  • Volatile geopolitical turmoil, including popular uprisings, regional conflicts, terrorism and war could result in market instability, which could negatively impact our business results.
  • Uncertainty in general economic conditions may adversely affect our operating results and financial condition.
  • Economic, political, and other risks associated with international sales and operations could adversely affect our results of operations.
  • Economic and political policies favoring national interests could adversely affect our results of operations.
  • Global health crises, such as the COVID-19 pandemic, have had an impact on our supply chain and could have a material impact on our global operations, our customers and our vendors, which could adversely impact our business results and financial condition.
  • Our operating results and financial condition could be harmed if the markets into which we sell our solutions decline or do not grow as anticipated.
  • A decreased demand for our customers’ products or trade restrictions could adversely affect our results of operations.
  • Failure to introduce successful new solutions and services in a timely manner to address increased competition, rapid technological changes, and changing industry standards could result in our solutions and services becoming obsolete.
  • Our future operating results may fluctuate significantly if our investments in innovative technologies are not as profitable as we anticipate.
  • Failure to adjust our purchases due to changing market conditions or failure to estimate our customers' demand could adversely affect our income.
  • Dependence on contract manufacturing and outsourcing other portions of our supply chain may adversely affect our ability to bring solutions to market and damage our reputation. Dependence on outsourced information technology and other administrative functions may impair our ability to operate effectively.
  • Our operating results may suffer if our manufacturing capacity does not match the demand for our solutions.
  • Industry consolidation and consolidation among our customer base may lead to increased competition and may harm our operating results.
  • Our acquisitions, strategic alliances, joint ventures, internal reorganizations and divestitures may result in financial results that are different than expected.
  • Any inability to complete acquisitions on acceptable terms could negatively impact our growth rate and financial performance.
  • We may need additional financing in the future to meet our capital needs or to make opportunistic acquisitions, and such financing may not be available on terms favorable to us, if at all, and may be dilutive to existing shareholders.
  • We have outstanding debt and may incur other debt in the future, which could adversely affect our financial condition, liquidity and results of operations.
  • If currency exchange rates fluctuate substantially in the future, our financial results could be adversely affected.
  • Volatile changes in weather conditions and effects of climate change could damage or destroy strategic facilities, including our headquarters, which could have a significant negative impact on our operations.
  • If we suffer a loss to our employees, factories, facilities or distribution system due to a catastrophic event, our operations could be significantly harmed.
  • Our commitment to Net Zero emissions in company operations by Fiscal Year 2040 will be subject to significant costs and regulations which could impact business operations, processes, revenue, and reputation.
  • Third parties may claim that we are infringing their intellectual property rights, and we could suffer significant litigation or licensing expenses or be prevented from selling solutions or services.
  • Third parties may infringe our intellectual property rights, and we may suffer competitive injury or expend significant resources enforcing our intellectual property rights.
  • If we experience a significant cybersecurity attack or disruption in our IT systems, our business, reputation, and operating results could be adversely affected.
  • We are or will be subject to ongoing tax examinations of our tax returns by the IRS and other tax authorities. An adverse outcome of any such audit or examination by the IRS or other tax authority could have a material adverse effect on our results of operations, financial condition and liquidity.
  • Our operations may be adversely impacted by changes in our business mix or changes in the tax legislative landscape.
  • If tax laws or incentives change or cease to be in effect, our income taxes could increase significantly.
  • Our business will suffer if we are not able to retain and hire key personnel.
  • If we fail to maintain satisfactory compliance with certain regulations, we may be subject to substantial negative financial consequences and civil or criminal penalties.
  • Failure to comply with anti-corruption laws could adversely affect our business and result in financial penalties.
  • Our business and financial results may be adversely affected by various legal and regulatory proceedings.
  • Our internal controls may be determined to be ineffective, which may adversely affect investor confidence in our company, the value of our stock, and our access to capital.
  • Adverse conditions in the global banking industry and credit markets may adversely impact the value of our cash investments or impair our liquidity.
  • Future investment returns on pension assets may be lower than expected or interest rates may decline, requiring us to make significant additional cash contributions to our future plans.
  • Environmental contamination from past operations could subject us to unreimbursed costs and could harm on-site operations and the future use and value of the properties involved, and environmental contamination caused by ongoing operations could subject us to substantial liabilities in the future.
  • Our share price may fluctuate significantly.
  • We do not currently pay dividends on our common stock.
  • Certain provisions in our amended and restated certificate of incorporation and bylaws, and of Delaware law, may prevent or delay an acquisition of the company, which could decrease the trading price of our common stock.
  • Our amended and restated certificate of incorporation designates that the state courts in the State of Delaware or, if no state court located within the State of Delaware has jurisdiction, the federal court for the District of Delaware, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareholders, which could discourage lawsuits against the company and our directors and officers.
Management Discussion
  • Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
  • Keysight Technologies, Inc. ("we," "us," "Keysight" or the "company"), incorporated in Delaware on December 6, 2013, is a technology company that helps enterprises, service providers and governments accelerate innovation to connect and secure the world by providing electronic design and test solutions that are used in the simulation, design, validation, manufacture, installation, optimization and secure operation of electronics systems in the communications, networking and electronics industries. We also offer customization, consulting and optimization services throughout the customer's product development lifecycle, including start-up assistance, asset management, up-time services, application services and instrument calibration and repair.
  • Our fiscal year end is October 31. Unless otherwise stated, all years and dates refer to our fiscal year.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: evolution, excise, fifteen, fully, hearing, June, minimum, Radio, reserve, settled
Removed: accurately, aspect, disease, exceeded, fueled, improved, released, ROU, satellite, unrecognized, wireline

Patents

Utility
System for Determining Optical Probe Location Relative to a Photonic Integrated Circuit
22 Sep 22
A system for determining optical probe location relative to a photonic integrated circuit (PIC) is described.
Utility
Methods, Devices, and Systems for Coherent Time-gated Residual Spur Characterization and Correction In Signal Analyzers
15 Sep 22
Methods, devices, and systems for coherent time-gated residual spur characterization and correction in signal analyzers.
Utility
FLOATING LICENSE COMPUTING SYSTEM AND METHOD FOR FOUNDRY PROCESS DESIGN KITS (PDKs)
15 Sep 22
A system for managing process design kit (PDK) licenses among a plurality of Electronic Design Automation (EDA) workstations is provided.
Utility
Variable frequency multiplier
13 Sep 22
A variable frequency multiplier circuit for frequency multiplying an input signal provided by an ultra-low phase noise signal source includes a tone generator configured to generate a multiple tones from the input signal; a signal separating circuit configured to separate the multiple tones into tones of interest and idler tones, where the tones of interest are separated into one or more groups and outputted from the signal separating circuit, and the idler tones are terminated; an amplification circuit configured to amplify each group of the tones of interest to optimize small and large signal responses; and a switched filter bank configured to selectively connect a selected tone from the tones of interest to a circuit output.
Utility
Methods, systems, and computer readable media for measuring schedule update time for a time aware shaper implementation
13 Sep 22
A method for measuring a schedule update time of a time aware shaper DUT includes configuring the DUT with a first configuration that blocks traffic from at least one gate of the DUT.