SCHEDULE 13G/A: T. Rowe Price Associates Discloses 10.2% Stake in Keysight Technologies

T. Rowe Price Associates, Inc. has filed an amended Schedule 13G, reporting a 10.2% beneficial ownership stake in Keysight Technologies Inc. common stock as of January 31, 2025.

Summary

• T. Rowe Price Associates, Inc. (TRPA) filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership of common stock in Keysight Technologies Inc.
• As of January 31, 2025, TRPA beneficially owns an aggregate of 17,686,401 shares of Keysight Technologies Inc. common stock.
• This ownership represents 10.2% of the total class of Keysight Technologies Inc. common stock.
• TRPA holds sole voting power over 17,256,070 shares and sole dispositive power over 17,684,148 shares.
• T. Rowe Price Associates, Inc. is classified as an Investment Adviser (IA) for the purpose of this filing.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: The document is a neutral regulatory filing, but the disclosure of a significant stake by a reputable investment firm like T. Rowe Price can be viewed positively by the market as a vote of confidence in Keysight Technologies.

Positives

• A major institutional investor, T. Rowe Price Associates, Inc., holds a significant stake (10.2%) in Keysight Technologies, which can be interpreted as a vote of confidence in the company's long-term prospects.
• The filing explicitly states that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive, long-term investment perspective.

Risks

• The document itself does not detail specific risks related to Keysight Technologies' operations or financial health; it is a disclosure of ownership by an investment advisor.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding Keysight Technologies Inc.'s future performance or T. Rowe Price Associates, Inc.'s investment strategy beyond the certification that the shares are held in the ordinary course of business.

Management Comments

• The filing includes a certification from T. Rowe Price Associates, Inc. stating that "the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing reflects a significant institutional investment in Keysight Technologies, a company operating in the electronic test and measurement, and cybersecurity industries. Such large stakes by major investment advisors like T. Rowe Price are common and indicate their portfolio positioning within the technology sector. It does not provide specific insights into broader industry trends beyond the fact that a major player is investing in this sector.

Comparison to Industry Standards

• This document is a standard regulatory disclosure of beneficial ownership and does not contain information for direct comparison to industry-specific operational or financial benchmarks. It primarily details an investment firm's stake in a public company, which is a common practice across all industries.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may be viewed positively, potentially increasing investor confidence.
• Management: Awareness of a large institutional holder may influence strategic decisions, though the filing explicitly states no intent to influence control.

Next Steps

• T. Rowe Price Associates, Inc. will continue to file amendments to this Schedule 13G if there are material changes to their beneficial ownership of Keysight Technologies Inc. common stock, as required by SEC regulations.

Key Dates

Keywords

Keysight Technologies, T. Rowe Price Associates, Schedule 13G, beneficial ownership, common stock, institutional investment, SEC filing, ownership disclosure