California-based Keysight Technologies, Inc. (NYSE: KEYS) and Samsung Research have signed a memorandum of understanding (MoU) to advance the research and development of 6G technology.
Keysight and Samsung have been working together to make test and verification technologies for 6G wireless systems. The latest partnership will help boost the development of AI-enabled air interfaces that make use of multiple-input multiple-output (MIMO) antenna technology.
Giampaolo Tardioli, the Vice-President of Network Infrastructure Business at Keysight, said, “6G is expected to underpin the wireless connectivity fabric that leverages heterogeneous networks and the convergence of communication and computing.”
“Establishing a 6G partnership with Samsung enables Keysight to refine our software-driven test solutions, critical in developing differentiated 6G products,” Tardioli added.
The Executive Vice-President at Samsung Research, Sunghyun Choi, said, “The signing of this MoU with Keysight will greatly advance Samsung’s 6G strategy of combining the company’s expertise in communication technology with capabilities in software and AI.”
Keysight provides electronic design and test instrument equipment and software across the world. The company’s products and solutions are used across several industries, including commercial communications, networking, automotive, energy, electronic, semiconductor, aerospace, defense and government, and education industries.
Following the announcement on Tuesday, KEYS stock gained 2.3% to close at $169.77.
Recently, Mehdi Hosseini from Susquehanna reiterated a Buy rating on the stock with a price target of $222 (30.8% upside potential).
Last month, Robert W. Baird analyst Robert Mason maintained a Buy rating on Keysight with a price target of $198 (16.6% upside potential).
Overall, the stock has a Moderate Buy consensus rating based on 7 Buys and 3 Holds. The average Keysight Technologies price target of $209.30 implies 23.3% upside potential. Shares have gained 16.1% over the past year.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on KEYS, with 7% of investors on TipRanks increasing their exposure to the stock over the past 30 days.
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