Core Insights - Keysight Technologies, Inc. has validated the first 5G new radio non-terrestrial networks test cases under PTCRB RFT-555 for 3GPP Release 17 [1] - The company leads in the total number of radio frequency transmitter and receiver test cases [1] - Keysight uniquely holds validated performance test cases for these networks [1]

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 - Viavi Solutions Inc. reported strong fourth-quarter fiscal 2025 results, with revenues and net income exceeding expectations, driven by growth in the Network and Service Enablement (NSE) and Optical Security and Performance Products (OSP) segments [1][4][10] - The company faces challenges due to a constrained spending environment influenced by macroeconomic factors [1] Financial Performance - GAAP net income for the quarter was $8 million or 4 cents per share, a significant improvement from a net loss of $21.7 million or 10 cents per share in the same quarter last year [2] - Non-GAAP net income rose to $29.7 million or 13 cents per share, up from $17.1 million or 8 cents per share year-over-year, surpassing the Zacks Consensus Estimate by a penny [2] - For fiscal 2025, GAAP net income was $34.8 million or 15 cents per share compared to a net loss of $25.8 million or 12 cents per share in fiscal 2024 [3] - Non-GAAP net income for fiscal 2025 was $105.4 million or 47 cents per share, an increase from $73.5 million or 33 cents per share in fiscal 2024 [3] Revenue Breakdown - Quarterly revenues reached $290.5 million, reflecting a 15.3% year-over-year increase, driven by strong demand in the NSE and OSP segments [4][10] - NSE segment revenues were $209.1 million, up from $182.2 million, marking a 14.8% growth due to demand for fiber lab and production products [5] - OSP revenues increased to $81.4 million from $69.8 million, primarily due to strength in anti-counterfeiting products [5] - Revenue contributions from different regions included $112.3 million from America, $99.4 million from Asia-Pacific, and $78.8 million from EMEA [6] Margins and Operating Performance - Non-GAAP gross margin for the quarter was 60.1%, up 50 basis points from the prior year [7] - Non-GAAP operating margin improved by 350 basis points year-over-year to 14.4%, with NSE operating margin at 4.7% and OSP operating margin at 39.4% [8][10] Cash Flow and Liquidity - Viavi generated $89.8 million in cash from operating activities, with a free cash flow of $62 million [11] - As of June 30, 2025, the company had $423.6 million in cash and cash equivalents, with long-term debt of $396.1 million [11] Outlook - For the first quarter of fiscal 2026, management expects revenues between $290 million and $298 million, with non-GAAP earnings per share projected between 13 cents and 14 cents [12]

Core Viewpoint - Viavi Solutions Inc. reported strong third-quarter fiscal 2025 results, with revenues and net income exceeding expectations, driven by growth in the Network Enablement and Service Enablement segments, although macroeconomic challenges pose concerns for future spending [1][2]. Financial Performance - Net income on a GAAP basis was $19.5 million or 9 cents per share, a significant improvement from a net loss of $24.6 million or 11 cents per share in the prior year [2]. - Non-GAAP net income rose to $33.9 million or 15 cents per share, up from $13.2 million or 6 cents per share year-over-year, surpassing the Zacks Consensus Estimate by 3 cents [2]. Revenue Breakdown - Quarterly revenues reached $284.8 million, reflecting a 15.8% year-over-year increase, exceeding the Zacks Consensus Estimate of $282 million [3]. - The Network Enablement segment generated $188 million in net sales, a 23.9% increase from $151.7 million in the previous year, driven by strong demand from service providers and network equipment manufacturers [3]. - Service Enablement segment revenues were $20.2 million, up 11.6% year-over-year, supported by healthy demand trends [4]. - Optical Security and Performance Products revenues slightly increased to $76.6 million from $76.2 million, primarily due to strength in anti-counterfeiting products [4]. - Revenue contributions from different regions included $108.1 million from America, $100.7 million from Asia-Pacific, and $76 million from EMEA, showing respective increases from the previous year [5]. Margins and Operating Performance - Non-GAAP gross margin improved to 60%, up 210 basis points year-over-year, with the NE segment's gross margin at 63.4%, an increase of 190 basis points [6]. - Total non-GAAP operating margin increased by 740 basis points year-over-year to 16.7%, with the NSE business operating margin rising to 10.4% [7]. Cash Flow and Liquidity - The company generated $7.8 million in cash from operating activities during the quarter, a decrease from $19.5 million in the prior year [8]. - As of March 29, 2025, Viavi had $374.2 million in cash and cash equivalents and $396.1 million in long-term debt [8]. Outlook - For the fourth quarter of fiscal 2025, management anticipates revenues between $278 million and $290 million, with non-GAAP earnings per share expected to be between 10 cents and 13 cents [10]. - Projected revenues for the NSE business are between $203 million and $213 million, while the OSP segment is expected to generate revenues between $75 million and $77 million [10].

Core Insights - Keysight Technologies Inc. has launched the Next-Generation Embedded Security Testbench to tackle security challenges in modern chips and embedded devices [1][3] - The testbench features a modular framework built on high-speed PXIe architecture, enhancing the speed and precision of security testing [1][4] - The global embedded security market is expected to grow at a 7.6% CAGR from 2024 to 2030, positioning Keysight's solution favorably within this trend [5] Product Features - The testbench includes key components such as the M9046A PXIe Chassis, M9038A PXIe High-Performance Embedded Controller, and Inspector Software, with the ability to extend capabilities through additional instruments [2] - It integrates various testing instruments into a single PXIe chassis, improving communication and reducing the complexity of traditional testing setups [4] Market Context - The increasing adoption of IoT devices and the rise in sophisticated cyber attacks have created significant security challenges for manufacturers [3] - Keysight's solution addresses the need for fast, accurate, and scalable testing solutions in response to stringent security requirements from chip and embedded device manufacturers [5] Stock Performance - Keysight's shares have decreased by 11.1% over the past year, slightly better than the industry's decline of 13.2% [6]

Core Insights - Keysight Technologies has launched an innovative photonic design automation software called Photonic Designer, which is part of its Advanced Design System (ADS) suite, aimed at enhancing design accuracy and simplifying compliance-driven validation [1][6]. Group 1: Product Features - The Photonic Designer solution streamlines workflows by providing a comprehensive, physics-driven simulation environment that eliminates inefficiencies associated with switching between multiple software platforms [2]. - A standout feature of the solution is its ability to incorporate real-world measurement data into the simulation process, optimizing models and allowing engineers to verify designs against industry modulation standards before fabrication [3]. - The software optimizes photonic model variables for compatibility with foundry process design kits, preventing costly design iterations and ensuring compliance with rigorous design rules [4]. Group 2: Market Impact - Keysight's solutions are expected to enhance connectivity across various sectors, benefiting from the increasing electronic content in vehicles, momentum in space and satellite applications, and the rising adoption of driver-assistance systems globally [5]. - The launch of the Photonic Designer is anticipated to generate incremental demand for Keysight's testing solutions, leading to higher revenues and improved financial performance, which may positively impact stock prices [7]. Group 3: Stock Performance - Keysight's stock has gained 3.1% over the past year, outperforming the industry, which has seen a decline of 2.8% [8].