Core Insights - Keysight Design Forum (KDF) 2025 will be held on November 18 in Shanghai, focusing on EDA technology and innovations in various fields such as AI, RF design, and communication systems [2][3] - The event will feature four major technical topics, with a specific focus on RF and communication systems [5] RF and Communication Systems - The forum will showcase innovations from RF to system-level simulation, including an automated simulation platform that enhances efficiency by 200% in RF matching processes for smartphones [8] - The new AI-driven wireless simulation platform, WirelessPro, will be introduced, supporting AI RAN deployment and system-level validation [8][16] - The Nexus platform will demonstrate significant performance improvements in RF filter design, achieving up to 30 times convergence acceleration and 16 times computational speedup [10][12] Automation and AI in RF Design - A fully automated RF matching simulation process has been developed, significantly reducing manual intervention and allowing engineers to focus on more valuable design innovations [14] - The integration of AI and machine learning (ML) with the ADS Python API will enable a 1500-fold reduction in load traction simulation demands, showcasing the transformative potential of generative AI in design [19][20] Future Trends in 6G - The forum will address key trends and challenges in 6G standardization, emphasizing the role of AI as a core driver in air interface design [16] - SystemVue will be highlighted for its modeling capabilities in 6G technologies such as ISAC, RIS, and NTN [16] Event Participation - Registration for the event is now open, with opportunities for attendees to win prizes such as a ROG mechanical keyboard valued at ¥1500 [22][23][26]

Core Insights - Keysight Technologies, Inc. is a California-based tech company specializing in electronic design, testing, and measurement solutions across various industries, including telecom, aerospace, automotive, semiconductors, and IoT, with a market cap of $29.1 billion [1] Financial Performance - Analysts anticipate that Keysight will report a profit of $1.65 per share for fiscal Q4, reflecting a 10% increase from $1.50 per share in the same quarter last year [2] - For the current fiscal year, analysts expect an EPS of $6.26, which is a 15.1% increase from $5.44 in fiscal 2024 [3] Stock Performance - Keysight's stock has increased by 10.2% over the past 52 weeks, which is lower than the Technology Select Sector SPDR Fund's 28.1% growth and the S&P 500 Index's 16.9% increase during the same period [4] Market Challenges - The company has faced macroeconomic headwinds, including a recent 5.3% drop in stock price due to U.S. tariff threats against China related to strategic minerals and rare earths, which are crucial for the defense and semiconductor sectors [5] Strategic Actions - Keysight is focusing on operational efficiency and strategic restructuring, complemented by targeted acquisitions, which have positively impacted its share price [6] - The company completed the acquisition of Spirent Communications plc on Oct. 15, enhancing its capabilities in network automation, cybersecurity, and 5G technologies [6] - On Oct. 17, Keysight finalized acquisitions of Synopsys, Inc.'s Optical Solutions Group and ANSYS, Inc.'s PowerArtist, expanding its design engineering and software capabilities, leading to a 1.6% stock gain in the following session [7] Analyst Sentiment - The consensus opinion on Keysight's stock is strongly bullish, with a "Strong Buy" rating from eight out of eleven analysts, one suggesting "Moderate Buy," and two recommending a "Hold" [8] - The average analyst price target for KEYS is $191, indicating a potential upside of 12.7% from current price levels [8]

Core Insights - Keysight Technologies has enabled SK hynix to achieve its first Open Compute Project (OCP) Security Appraisal Framework and Enablement (S.A.F.E.) recognition for a solid-state drive (SSD) solution [1] - This accomplishment highlights a pioneering collaboration within the industry, emphasizing Keysight's commitment to empowering innovators and securing the technology supply chain [1] - The recognition comes at a time when cloud adoption is accelerating and artificial intelligence (AI) workloads are intensifying [1]

Core Insights - Keysight Technologies, Inc. has completed the acquisition of the Optical Solutions Group from Synopsys, Inc. and PowerArtist from Ansys, Inc. [1] - These acquisitions are aimed at enhancing Keysight's design engineering software portfolio and computer-aided engineering capabilities [1] - The strategic move is expected to enable customers to bring innovative designs to market more quickly [1] Company Summary - The Optical Solutions Group is recognized as a leading developer in optical design and analysis [1] - The acquisition of PowerArtist will further strengthen Keysight's offerings in the engineering software domain [1]

Core Insights - Keysight Technologies, Inc. has completed the acquisition of Spirent Communications plc, marking a significant milestone for the company [1] Group 1: Acquisition Details - The acquisition combines Keysight's expertise in design, emulation, and testing with Spirent's strengths in satellite emulation, positioning, and network automation [1] - This strategic move aims to expand Keysight's portfolio to better serve its customers [1]

Core Insights - Keysight Technologies has launched the AE6980T nGBASE-AU Optical Automotive Ethernet Transmitter Test Solution, the first platform to qualify next-generation optical automotive Ethernet PHYs in compliance with the IEEE 802.3cz standard [1][5] - The new solution aims to enhance in-vehicle networking for software-defined and autonomous vehicles by providing low-latency, EMI-immune links with high bandwidth and reduced cabling weight [2][3] Product Features and Benefits - The AE6980T is built on Keysight's FlexDCA platform and integrates advanced Transmitter Distortion Figure of Merit (TDFOM) measurement capabilities, which are essential for assessing optical signal quality [4][7] - The solution automates complex test setups and generates comprehensive HTML reports, improving efficiency for validation and engineering teams [4][5] - Keysight collaborated with KD, a leader in nGBASE-AU multigigabit optical automotive Ethernet technology, to develop the IEEE 802.3cz standard and TDFOM test specifications [5][6] Industry Impact - The introduction of optical automotive Ethernet technology is seen as a transformative step in the in-vehicle network landscape, supporting the shift towards centralized zonal architectures and higher levels of automation in vehicles [3][6] - Keysight's solutions are positioned to redefine automotive connectivity, setting new benchmarks for performance and reliability in the industry [6][9]

Core Insights - Benson Investment Management Company disclosed a new position in Keysight Technologies, acquiring 31,240 shares valued at approximately $5.5 million as of September 30 [1][2] - This acquisition represents about 2% of Benson Investment Management's 13F reportable assets under management (AUM) as of the same date [3] - Keysight Technologies' shares were priced at $159.49 as of October 9, 2025, reflecting a 0.3% increase over the year, but underperforming the S&P 500 by about 12 percentage points [3] Company Overview - Keysight Technologies is a global leader in electronic design and test solutions, serving various industries including communications, aerospace, and semiconductors [6] - The company reported a total revenue of $5.2 billion and a net income of $544 million for the trailing twelve months (TTM) [4] Financial Performance - In the third fiscal quarter of 2025, Keysight Technologies reported revenue of $1.35 billion, marking an 11% year-over-year increase, with non-GAAP EPS of $1.72, exceeding guidance [10] - The company experienced a 7% increase in orders, driven by double-digit growth in commercial communications and steady demand in defense sectors [10] Strategic Positioning - The new investment in Keysight Technologies is seen as a strategic pivot towards high-quality industrial tech exposure within a portfolio primarily focused on mega-cap technology companies [7][11] - Keysight's performance is notable as it continues to thrive despite broader industrial slowdowns, suggesting potential for growth as the testing and measurement cycle strengthens into fiscal 2026 [11]

Core Viewpoint - The article discusses the divestiture of Synopsys' Optical Solutions Group and PowerArtist business to Keysight Technologies as a necessary step for regulatory approval of Synopsys' acquisition of Ansys, which was completed on July 17, 2025. The divestiture is expected to be finalized around October 17, 2025, and is not anticipated to have a significant financial impact on Synopsys [1][4]. Group 1: Synopsys' Divestiture - Synopsys has received all necessary approvals to proceed with the divestiture of its Optical Solutions Group (OSG) and PowerArtist business to Keysight Technologies, which is seen as essential for the regulatory approval of the Ansys acquisition [1][4]. - The OSG provides design tools and services for high-precision optical product simulation and visualization, including tools like CODE V, LightTools, LucidShape, RSoft, and the recently launched ImSym [2][3]. - The divestiture is expected to allow for a seamless transition for employees, customers, and partners, with OSG continuing to operate as part of Synopsys until the transaction is completed [3][4]. Group 2: Keysight Technologies' Acquisition - Keysight Technologies aims to expand its software simulation product portfolio through the acquisition of Synopsys' Optical Solutions Group, enabling support for high-performance systems beyond electronics, including optics and photonics [3][5]. - The acquisition of PowerArtist, a comprehensive RTL power design platform, is intended to enhance Keysight's position in high-performance system design and simulation software [4][5]. - Both Synopsys and Ansys believe that the sale of PowerArtist is necessary for regulatory approval, and the transition will be managed to ensure continuity of service for customers [4][5].

Core Insights - Keysight Technologies, Inc. has launched the UALink 1.0 transmitter test solution, which is a dedicated compliance test tool for UALink devices [1] - The new test application facilitates high-speed validation in advanced computing and AI interconnect systems, automating essential electrical measurements to ensure signal integrity and compliance with standards at 200 Gb/s link speeds [1] - The UALink 1.0 technology was introduced in 2024, indicating a forward-looking approach in technology development [1]

Market Overview - Mid cap growth equities experienced modest gains in Q3, with the Russell Midcap Growth Index returning 2.8%, lagging behind the Russell Midcap Value Index at 6.2% and the Russell Midcap Index at 5.3% [3] - The U.S. Federal Reserve's rate cut in September contributed to easing monetary policy, benefiting rate-sensitive sectors and renewing interest in cyclical and innovation-led areas [3] Investor Sentiment - Investor sentiment improved due to the passage of the One Big Beautiful Bill and progress on trade agreements, reducing policy uncertainty and enabling companies to execute delayed strategic decisions [4] - Earnings estimates stabilized, particularly in technology and AI-related sectors, despite ongoing challenges in non-residential construction and discretionary segments [4] Portfolio Performance - The ClearBridge Mid Cap Growth Strategy outperformed its benchmark in Q3, driven by stock selection in IT, consumer staples, and healthcare sectors, while consumer discretionary and financials sectors slightly detracted from performance [5] Sector Contributions - In the IT sector, AppLovin (APP) and Monolithic Power Systems (MPWR) were standout performers, with AppLovin benefiting from strong earnings and optimism around its e-commerce business [6] - Consumer staples saw positive contributions from Performance Food Group (PFGC) and Casey's General Stores (CASY), both benefiting from strong operational performance [7] - The consumer discretionary sector faced challenges, particularly with Chipotle Mexican Grill (CMG) and Wingstop (WING) experiencing declines due to competitive pressures and softer spending trends [8] - Financials sector was a modest drag on performance, with Tradeweb Markets (TW) and Corpay facing challenges from macro volatility and company-specific issues [9] Portfolio Positioning - New positions were initiated in Roblox, benefiting from improved growth dynamics and advertising opportunities, and APi Group, which is well-positioned in safety and industrial services [10][11] - Exited position in Deckers Outdoor (DECK) due to increasing competitive pressures in the sneaker market [12] Outlook - Leadership within mid growth stocks remains selective, with a few companies rewarded for differentiated technology and strong pipelines, while others struggle with demand and competition [13] - Focus remains on identifying businesses with secular growth drivers across technology, healthcare, and industrials sectors [14] - Near-term market uncertainty is expected to persist, but the strategy is positioned to benefit from companies sustaining durable growth in earnings and cash flow [15] Portfolio Highlights - The ClearBridge Mid Cap Growth Strategy had positive contributions across seven of the 11 sectors, with IT and healthcare being the leading contributors [16] - Stock selection in IT, consumer staples, healthcare, and energy sectors contributed positively, while consumer discretionary and financials sectors weighed on performance [17] - Individual stock contributions included AppLovin, United Rentals (URI), and Performance Food, while detractors included Chipotle Mexican Grill and Tradeweb Markets [18]