Keysight Shares Drop Under Buyback Level, AI Orders Surpass $2 Billion
Keysight Technologies, Inc. reported record orders and raised its outlook, yet its shares fell 11.7% last week. The divergence is prompting investors to assess if AI-driven demand will translate into revenue quickly enough.
NYSE: KEYS
AI orders vs. price rejection
Keysight Technologies investor dashboard
U.S. market closed
Price data: August 21, 2026, 4:00 p.m. EDT / 22:00 CEST
Friday close
$316.13
-0.12% Friday
Weekly move
-11.7%
From Aug. 14 close
Q3 orders
$2.09bn
+56% year on year
Buyback marker
$326
KEYS closed 3.0% below
Six-session price path
Price dislocation
Aug. 17 high to Aug. 21 low
-15.3%
$366.41 to $310.27
Consensus target
$415.08
+31.3% from Friday
Record quarter
| Metric | Q3 FY26 | YoY |
|---|---|---|
| Orders | $2.09bn | +56% |
| Revenue | $1.85bn | +36% |
| Non-GAAP EPS | $3.07 | +79% |
| Operating margin | 33.2% | +820 bps |
| Free cash flow | $403m | +38% |
Fresh analyst recommendations
| Firm | Rating | Target |
|---|---|---|
| UBS | Buy | $440 |
| Susquehanna | Buy | $440 |
| Morgan Stanley | Buy | $425 |
| JPMorgan | Buy | $425 |
| Truist | Hold | $400 |
All dated Aug. 19. Consensus: 10 Buy, 2 Hold, 0 Sell.
Why the stock moved down
A wider tech selloff met a demanding valuation. Investors also focused on parts and internal-capacity constraints that may slow order conversion despite record demand.
What supports the bull case
Orders exceeded $2 billion for a second quarter. Wireline revenue passed wireless for the first time, while Q4 guidance topped prior consensus by 6% on revenue and 26% on EPS.
Next investor checks
Demand quality
Book-to-bill
1.13×
Orders exceeded revenue by $245m.
Sources: Keysight fiscal Q3 release and earnings call; Reuters weekly market recap; StockInvest.us price history; Investing.com analyst consensus. Price-target upside and book-to-bill are calculated. Non-GAAP measures are identified.
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