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Here’s Why Keysight Technologies (KEYS) Outperformed in the Third Quarter

ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” third 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark in the third quarter, the Russell 3000 Index. Only the industrial sector contributed positively to the strategy’s absolute performance among the ten sectors the strategy invested in. The significant performance detractors were materials, consumer discretionary, and real estate sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Keysight Technologies, Inc. (NYSE:KEYS) in the Q3 2022 investor letter. Headquartered in Santa Rosa, California, Keysight Technologies, Inc. (NYSE:KEYS) is an electronic design and test solutions provider. On November 21, 2022, Keysight Technologies, Inc. (NYSE:KEYS) stock closed at $172.13 per share. One-month return of Keysight Technologies, Inc. (NYSE:KEYS) was -0.91% and its shares lost 11.86% of their value over the last 52 weeks. Keysight Technologies, Inc. (NYSE:KEYS) has a market capitalization of $30.776 billion.

ClearBridge Investments made the following comment about Keysight Technologies, Inc. (NYSE:KEYS) in its Q3 2022 investor letter:

"Keysight Technologies, Inc. (NYSE:KEYS), which provides electronics test and measurement equipment and software to the communications and electronics industries and is positively levered to the growth of 5G, has been executing well, and the 20% of its revenues it received from China should further help as China rolls back COVID-19 restrictions."

franco lucato/Shutterstock.com

Keysight Technologies, Inc. (NYSE:KEYS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Keysight Technologies, Inc. (NYSE:KEYS) at the end of the third quarter, which was 37 in the previous quarter.

In another article, we discussed Keysight Technologies, Inc. (NYSE: KEYS) and shared the top 10 companies' earnings to watch in the third week of August. In addition, please check out our hedge fund investor letters Q3 2022 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.