Should You Consider Selling Keysight Technologies (KEYS)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Keysight Technologies, Inc. (NYSE:KEYS) in the fourth quarter 2023 investor letter. Headquartered in Santa Rosa, California, Keysight Technologies, Inc. (NYSE:KEYS) is an electronic design and test solutions provider. On March 28, 2024, Keysight Technologies, Inc. (NYSE:KEYS) stock closed at $156.38 per share. One-month return of Keysight Technologies, Inc. (NYSE:KEYS) was 1.35%, and its shares lost 1.07% of their value over the last 52 weeks. Keysight Technologies, Inc. (NYSE:KEYS) has a market capitalization of $27.297 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Keysight Technologies, Inc. (NYSE:KEYS) in its fourth quarter 2023 investor letter:

“We sold out of Keysight Technologies, Inc. (NYSE:KEYS), which offers a wide array of services including electronic design automation software, instrument measurement software, and software testing. The telecommunications malaise is still ongoing. As such, that end-market lacks visibility and near-term estimates are being cut. The stock lost -7% while held during the quarter.”

A technician examining a complex circuit board in a semiconductor development lab.

Keysight Technologies, Inc. (NYSE:KEYS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Keysight Technologies, Inc. (NYSE:KEYS) was held by 35 hedge fund portfolios, compared to 35 in the previous quarter, according to our database.

We discussed Keysight Technologies, Inc. (NYSE:KEYS) in another article and shared The London Company Mid Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.