Keysight Technologies is a high-quality business with a wide economic moat, strong margins, and 32% revenue growth, but the stock is trading above its near-term price target with negative effective upside, making the current setup unattractive despite the underlying franchise's merits.
Thesis pillars
- Strong Revenue Growth Acceleration→Stable
- Wide Moat Franchise Quality→Stable
- Valuation Stretch Above Target↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Dec 17, 2025· older than 90 days
Keysight Technologies Inc. (KEYS) Stock Analysis
Temporary headwind edge
Technology · Scientific & Technical Instruments
Wait for pullback to $289.85. Weak momentum; also recent C-suite change — blocks BUY_NOW at $305.11. Engine's entry $289.85 (Default 5pct Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Sector modifier (Technology): -0.8; Negative momentum.
Keysight Technologies develops electronic test and measurement hardware, software, and services for communications, aerospace/defense, semiconductor, and industrial customers globally across two segments. The company generated $5.4 billion in revenue in fiscal 2025, primarily... Read more
Wait for pullback to $289.85. Weak momentum; also recent C-suite change — blocks BUY_NOW at $305.11. Engine's entry $289.85 (Default 5pct Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Sector modifier (Technology): -0.8; Negative momentum. Chart setup: No clear chart pattern; technical signals are mixed. Growth is cheap relative to earnings, but the technical setup has not yet produced a breakout above resistance (PEG 0.59, quality 8.4/10, growth 10.0/10). Score 6.5/10, moderate confidence.
Passes 6/8 gates (favorable risk/reward ratio, clean insider activity, news boost analyst 0.50, earnings proximity 15d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: moderate.
About Keysight Technologies Inc.
About Keysight Technologies Inc.
Keysight Technologies generated $5.4 billion in revenue in fiscal 2025, serving customers across more than 100 countries through two segments: the Communications Solutions Group, covering wireless, wireline data center, and aerospace/defense markets, and the Electronic Industrial Solutions Group, covering automotive, semiconductor, and general electronics. The company invested $1,007 million in R&D that year and, in October 2025, acquired Spirent Communications alongside two EDA software businesses from Synopsys and Ansys.
Keysight's revenue derives from hardware instruments — signal analyzers, network analyzers, oscilloscopes, and power analyzers — bundled with software applications and services including calibration, repair, and engineering consulting via Keysight Global Services. The primary demand driver is R&D-phase engineering: new standards cycles including 5G, 6G, 800Gb/s Ethernet, commercial satellite, and AI data center interconnect require continuous tool refresh as chipmakers, network equipment manufacturers, and defense contractors validate designs. The company operates an in-house semiconductor fab and proprietary packaging centers; software engineering now constitutes the majority of R&D headcount, reflecting a push toward recurring subscription and license revenue. No single customer accounts for more than 10% of revenue, and the channel mix combines a direct global sales force with indirect partners and e-commerce.
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Export controls and China tariffs both appear in the 10-K as named operational risks. Some customers and suppliers have been added to the U.S. Department of Commerce's "Lists of Parties of Concern," forcing suspension of those relationships, and the filing notes certain counterparties develop unique solutions that may be irreplaceable on short notice. Tariff escalation on Chinese imports began in the second quarter of fiscal 2025, affecting customers and suppliers with China ties. Accounting operations are also centralized in India and Malaysia, adding geographic operational dependency.
See also: Technology · Scientific & Technical Instruments
From Keysight Technologies Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated Nov 4, 2026Recent Developments — Keysight Technologies Inc.
Latest news
- NEWS Will Electronica 2026 Unveilings Change Keysight Stock Narrative - Yahoo Finance — Yahoo Finance Nov 4, 2026 neutral
- NEWS Why Keysight Technologies (KEYS) Shares Dropped And What Investors Are Weighing - Yahoo Finance — Yahoo Finance Nov 3, 2026 negative
- NEWS Keysight Technologies Inc (KEYS) Shares Fall 6.9% -- GF Value Sa - GuruFocus — GuruFocus Oct 30, 2026 negative
- NEWS What to Expect From Keysight Technologies’ Next Quarterly Earnings Report - inkl — inkl Oct 28, 2026 neutral
- NEWS What to Expect From Keysight Technologies’ Next Quarterly Earnings Report - Yahoo Finance — Yahoo Finance Oct 28, 2026 neutral
Latest item Nov 4, 2026 · Generated 2026-11-04T11:34:31Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMGeographicinternational operations10-K Item 1A: 'revenue from international operations will continue to represent a majority of our total revenue'
Material Events(8-K, last 90d)
- 2026-03-13Item 5.02LOWJohn Page, SVP Global Services, announced retirement effective by Oct 31, 2026 on March 12, 2026. Personal reasons cited; no disagreement with Company. No successor named.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker·1 ceiling hit
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $289.85. Weak momentum; also recent C-suite change — blocks BUY_NOW at $305.11. Engine's entry $289.85 (Default 5pct Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Sector modifier (Technology): -0.8; Negative momentum. Chart setup: No clear chart pattern; technical signals are mixed. Growth is cheap relative to earnings, but the technical setup has not yet produced a breakout above resistance (PEG 0.59, quality 8.4/10, growth 10.0/10). Target $365.11 (+19.7%), stop $269.56 (−13.2%), A.R:R 1.9:1. Score 6.5/10, moderate confidence.
Take-profit target: $365.11 (+19.7% upside). Target $365.11 (+19.7%), stop $269.56 (−13.2%), A.R:R 1.9:1. Stop-loss: $269.56.
Sector modifier (Technology): -0.8; Negative momentum.
Keysight Technologies Inc. trades at a P/E of 40.5 (forward 21.9). TrendMatrix value score: 5.6/10. Verdict: Buy (Wait for Entry).
19 analysts rate KEYS, with a consensus score of 4.2/5. 12 analysts publish price targets averaging $420.
What does Keysight Technologies Inc. do?Keysight Technologies develops electronic test and measurement hardware, software, and services for communications,...
Keysight Technologies develops electronic test and measurement hardware, software, and services for communications, aerospace/defense, semiconductor, and industrial customers globally across two segments. The company generated $5.4 billion in revenue in fiscal 2025, primarily from R&D applications, serving approximately 40,000 end customers in over 100 countries. An in-house semiconductor fab and $1,007 million R&D spend in fiscal 2025 support first-to-market solution positioning.