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→Stable
- +1 more pillar — see the Why tab for full reasoning
Keysight Technologies Inc. (KEYS) Stock Analysis
Technology · Scientific & Technical Instruments
Hold if already holding. Not a fresh buy at $313.86, but acceptable to hold if already in. Reason: Thin upside margin: 6.2%.
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
Hold if already holding. Not a fresh buy at $313.86, but acceptable to hold if already in. Reason: Thin upside margin: 6.2%. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 6.4/10, moderate confidence.
Passes 6/9 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 46d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. 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 2026-07-06Recent Developments — Keysight Technologies Inc.
Latest news
- NEWS Keysight Technologies Inc. stock underperforms Wednesday when compared to competitors - MarketWatch — MarketWatch negative
- NEWS Keysight: The AI and Defense Stock Seeing Big Price Target Boosts - MarketBeat — MarketBeat positive
- NEWS Keysight: The AI and Defense Stock Seeing Big Price Target Boosts - The Globe and Mail — The Globe and Mail positive
- NEWS KEYS Rides on Strength in the CSG Segment: More Upside Ahead? - TradingView — TradingView positive
- NEWS Impressive Earnings May Not Tell The Whole Story For Keysight Technologies (NYSE:KEYS) - Yahoo Finance — Yahoo Finance negative
Generated 2026-07-06T05:51:47Z.
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.
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $313.86, but acceptable to hold if already in. Reason: Thin upside margin: 6.2%. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Target $333.28 (+6.2%), stop $301.98 (−3.9%), A.R:R 0.6:1. Score 6.4/10, moderate confidence.
Take-profit target: $333.28 (+6.2% upside). Target $333.28 (+6.2%), stop $301.98 (−3.9%), A.R:R 0.6:1. Stop-loss: $301.98.
Thin upside margin: 6.2%.
Keysight Technologies Inc. trades at a P/E of 50.5 (forward 26.5). TrendMatrix value score: 4.3/10. Verdict: Hold.
20 analysts cover KEYS with a consensus score of 4.0/5. Average price target: $383.
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.