Broadcom vs Keysight Technologies: A Comprehensive Comparison of Tech Giants

In today’s rapidly evolving technological landscape, companies like Broadcom and Keysight Technologies stand as titans, shaping the future of the semiconductor industry, network infrastructure, and electronic measurement solutions. Both companies have carved unique niches in the tech ecosystem, with significant impacts on everything from 5G infrastructure to cybersecurity solutions. This in-depth analysis explores how these tech giants compare across product offerings, technology capabilities, market positioning, financial performance, and future outlook, providing critical insights for technology professionals, cybersecurity experts, and industry analysts.

Company Overview and Market Positioning

Understanding the foundational differences between Broadcom and Keysight Technologies requires examining their origins, core business models, and strategic positioning in the technology ecosystem.

Broadcom: The Diversified Semiconductor Powerhouse

Broadcom Inc. (NASDAQ: AVGO) has evolved dramatically from its origins as a semiconductor manufacturer. Through strategic acquisitions and business diversification, Broadcom has transformed into a global technology conglomerate with a broad portfolio spanning semiconductors, infrastructure software, and security solutions. The company’s growth strategy has been notably aggressive, with high-profile acquisitions including CA Technologies in 2018 for $18.9 billion and Symantec’s enterprise security business in 2019 for $10.7 billion.

The 2022 announcement of Broadcom’s intent to acquire VMware for approximately $61 billion marked one of the largest technology acquisitions in history, demonstrating the company’s commitment to expanding beyond its traditional semiconductor business into enterprise software and cloud infrastructure. This diversification strategy has positioned Broadcom as a comprehensive technology provider with significant presence across multiple critical technology segments.

Broadcom’s current market focus includes:

• Semiconductor Solutions: Network switching chips, broadband components, wireless connectivity solutions, and storage adapters
• Infrastructure Software: Enterprise security, mainframe solutions, and application performance management
• Cybersecurity: Network security, endpoint protection, and integrated security solutions through the Symantec enterprise business

Keysight Technologies: The Measurement Expert

Keysight Technologies (NYSE: KEYS) emerged as a spinoff from Agilent Technologies in 2014, which itself was previously a division of Hewlett-Packard. This heritage gives Keysight deep roots in precision measurement and testing technologies dating back several decades. Unlike Broadcom’s diversified approach, Keysight has maintained a more focused business model centered on electronic design and test solutions.

Keysight’s core competency lies in providing advanced measurement solutions that enable innovation across communications, aerospace, defense, automotive, energy, semiconductor, and general electronics markets. The company’s solutions span the entire product development lifecycle from design simulation through prototype validation, manufacturing, deployment, and optimization.

Keysight’s primary market segments include:

• Communications Solutions: 5G, 6G, network testing, and signal analysis equipment
• Electronic Industrial Solutions: Semiconductor test equipment, general electronics measurement, and automotive/energy solutions
• Network Security: Network visibility, monitoring, and security testing tools for enterprise networks

This focused approach has allowed Keysight to establish itself as the market leader in electronic measurement, with particularly strong positions in emerging technologies like 5G, quantum computing, and advanced automotive systems.

Product Portfolio and Technical Capabilities

The technical capabilities of both companies reveal significant differences in approach, specialization, and market applications that are critical for technology professionals to understand.

Broadcom’s Technology Ecosystem

Broadcom’s product portfolio reflects its evolution from a pure semiconductor company to a diversified technology provider. The integration of hardware and software solutions creates a comprehensive ecosystem particularly valuable for enterprise customers seeking end-to-end solutions.

Semiconductor Solutions

At its core, Broadcom remains a semiconductor powerhouse. The company’s chip solutions power crucial infrastructure across multiple industries:

• Network Infrastructure: Broadcom’s Trident and Tomahawk switch chips are industry standards for data center networking, supporting up to 51.2 Tbps of bandwidth in current generations.
• Wireless Connectivity: The company’s Wi-Fi 6/6E chipsets power premium smartphones, enterprise access points, and consumer routers worldwide.
• Storage Solutions: Host Bus Adapters (HBAs) and RAID controllers facilitate high-performance enterprise storage systems.
• Custom Silicon: Application-specific integrated circuits (ASICs) designed for cloud service providers and telecommunications equipment manufacturers.

A technical examination of Broadcom’s BCM56990 Tomahawk 4 switch chip reveals industry-leading specifications, including support for 512 x 100G ports or 128 x 400G ports, making it a critical component for hyperscale data centers building next-generation infrastructure.

Infrastructure Software

Broadcom’s software portfolio has expanded dramatically through acquisitions, creating a cohesive enterprise software stack:

• Mainframe Software: Acquired from CA Technologies, these solutions optimize and secure mission-critical mainframe operations for Fortune 500 companies.
• Automation Tools: Including CI/CD (Continuous Integration/Continuous Deployment) solutions and API management platforms.
• Application Performance Management: Advanced monitoring and optimization for complex enterprise applications.

Cybersecurity Solutions

Following the Symantec enterprise acquisition, Broadcom’s security portfolio offers comprehensive protection:

• Endpoint Protection: Advanced threat prevention, detection, and response capabilities for enterprise endpoints.
• Network Security: Next-generation firewalls, intrusion prevention systems, and secure web gateways.
• Email Security: Protection against phishing, business email compromise, and other email-based threats.
• Cloud Security: Cloud access security brokers (CASB) and cloud workload protection platforms.

Let’s examine a real-world implementation of Broadcom’s security technology stack:

# Symantec Endpoint Protection command-line configuration example
smc -enforce -policy "High Security" -domain "Enterprise"
smc -enable -feature "Advanced Threat Protection" -level "Aggressive"

# Example Network Security Policy (Simplified)
firewall_rule {
  name: "Block Outbound SMB"
  source: "INTERNAL_NETWORKS"
  destination: "EXTERNAL_NETWORKS"
  service: "SMB"
  action: "BLOCK"
  log: true
}

This configuration demonstrates how Broadcom’s security solutions can be integrated into enterprise security postures with granular control and automation capabilities, representative of the robust policy management available in their security suite.

Keysight’s Precision Measurement and Testing Solutions

Keysight’s product portfolio centers on high-precision measurement equipment and software that enables innovation across multiple industries. Unlike Broadcom’s focus on components and infrastructure, Keysight specializes in the tools that help engineers design, test, and validate complex electronic systems.

Communications Testing Solutions

Keysight’s communications testing equipment is the gold standard for telecommunications and network equipment manufacturers:

• Signal Analyzers: Ultra-wideband spectrum and signal analyzers capable of capturing and analyzing complex waveforms across multiple frequency bands.
• Vector Network Analyzers: Precision instruments for characterizing RF components and antennas up to millimeter-wave frequencies.
• Wireless Test Sets: Specialized equipment for testing 5G NR (New Radio) devices across sub-6GHz and millimeter-wave frequency bands.
• Protocol Testing: Comprehensive solutions for verifying conformance to standards like 5G, LTE, Wi-Fi 6/6E/7, and emerging 6G technologies.

A technical deep dive into Keysight’s UXR-Series oscilloscopes reveals industry-leading specifications with up to 110 GHz bandwidth and 256 GSa/s sample rate, essential for characterizing high-speed digital interfaces and next-generation wireless signals.

Electronic Design Automation (EDA) Software

Keysight’s software solutions enable complex system design and simulation:

• PathWave Design: Integrated circuit, RF, and microwave design platforms.
• SystemVue: Advanced system-level modeling and verification environment.
• EMPro: 3D electromagnetic simulation software for complex RF component design.
• Signal Optimization: Tools for waveform generation, analysis, and optimization.

These software tools enable engineers to simulate and optimize designs before building physical prototypes, significantly reducing development time and costs.

Network Security and Visibility

While less prominent than Broadcom’s security portfolio, Keysight offers specialized solutions for network security testing and monitoring:

• Network Visibility: Taps, packet brokers, and monitoring solutions that provide complete visibility into network traffic.
• Security Testing: Tools for simulating cyber attacks and validating security control effectiveness.
• Breach and Attack Simulation: Automated platforms that continuously test security defenses against the latest threats.

Consider this example implementation of Keysight’s network visibility solution:

# Keysight Vision ONE Configuration Example
# Filtering traffic to security tools based on application type

# Define filter for suspicious encrypted traffic
filter create name="SuspiciousEncrypted" \
  ipv4.protocol=tcp AND \
  app.name="TLS" AND \
  (app.metadata.cipher_strength="weak" OR app.metadata.certificate.valid=false)

# Send matching traffic to security tools for deep inspection
port_group create name="SecurityTools" ports="tool1,tool2,tool3"
filter action add name="SuspiciousEncrypted" \
  forward_to="SecurityTools" \
  packet_count=true \
  packet_capture=true

This configuration demonstrates how Keysight’s visibility solutions can identify potentially malicious encrypted traffic and direct it to appropriate security tools, illustrating the precision and granularity available in their network monitoring platforms.

Technology Innovation and Research Focus

The R&D approaches and innovation trajectories of Broadcom and Keysight offer insights into their future market positions and technological capabilities.

Broadcom’s Innovation Strategy

Broadcom allocates approximately 13-15% of its revenue to research and development activities, representing a significant investment in future technologies. The company’s innovation strategy has evolved alongside its business model, with current focus areas including:

Custom Silicon for AI/ML

Broadcom has intensified its focus on developing specialized silicon for artificial intelligence and machine learning applications. This includes both training and inference accelerators designed to compete with offerings from NVIDIA and other specialized AI chip manufacturers.

The company’s advantage lies in its ability to integrate custom AI functionality with its existing networking infrastructure—for example, embedding ML acceleration directly into network switches to enable real-time traffic analysis and optimization without requiring separate dedicated hardware.

400G/800G Networking

As data center bandwidth demands continue to escalate, Broadcom is pioneering the next generation of ultra-high-speed networking technologies. The company’s Tomahawk 5 platform supports 51.2 Tbps of switching capacity, enabling 512 ports of 100G, 128 ports of 400G, or 64 ports of 800G connectivity in a single chip.

These advances are critical for supporting hyperscale cloud environments and the growing demands of AI workloads, which require massive data movement capabilities between compute nodes.

Security in Hybrid Cloud Environments

With the Symantec acquisition, Broadcom has prioritized developing integrated security solutions for hybrid cloud environments. This includes:

• Cloud Access Security Brokers (CASBs) that provide visibility and control over SaaS applications
• Zero Trust Network Access (ZTNA) solutions that replace traditional VPNs with more secure, granular access controls
• Container and Kubernetes security tools that protect cloud-native applications

The company’s innovation in this space focuses on integration and automation, enabling security policies to be consistently applied across on-premises and multi-cloud environments with minimal human intervention.

Keysight’s Innovation Strategy

Keysight consistently invests 15-16% of its revenue in R&D, reflecting its commitment to maintaining technological leadership in precision measurement. The company’s research focus areas include:

6G and Advanced Wireless

While 5G deployment continues globally, Keysight is already deeply engaged in research for 6G technologies. The company’s research initiatives focus on:

• Sub-THz and THz frequency communications (100+ GHz)
• Massive MIMO with hundreds or thousands of antenna elements
• Integrated sensing and communications capabilities
• New waveforms and modulation schemes for improved spectral efficiency

Keysight’s early research in these areas positions it to deliver the test and measurement solutions that will be essential for bringing 6G technologies to market in the 2028-2030 timeframe.

Quantum Computing

Keysight has emerged as a key provider of test solutions for quantum computing research. The company’s quantum solutions include:

• Arbitrary waveform generators for precise qubit control
• Ultra-low-noise measurement systems for qubit characterization
• Microwave signal generation and analysis for quantum control systems
• Software tools for quantum system design and validation

This focus positions Keysight as an essential partner for quantum computing research labs and commercial quantum computing initiatives.

Automotive and Electric Vehicle Testing

As the automotive industry undergoes rapid electrification and automation, Keysight has developed specialized testing solutions for:

• Electric vehicle battery characterization and optimization
• Power electronics performance and efficiency testing
• Advanced driver assistance systems (ADAS) validation
• Automotive radar and lidar sensor testing
• Vehicle-to-everything (V2X) communications validation

These solutions help automotive manufacturers accelerate development cycles while ensuring the safety and reliability of increasingly complex vehicle systems.

Financial Performance and Market Strength

A comparative analysis of financial metrics provides insight into the market strength and investment potential of both companies.

Revenue Growth and Diversification

Broadcom and Keysight have demonstrated different growth trajectories, reflecting their distinct business models and market approaches.

Broadcom has shown impressive revenue growth, largely fueled by strategic acquisitions. The company’s annual revenue reached approximately $33.2 billion in fiscal year 2022, representing significant growth over the past five years. This growth has been accompanied by diversification of revenue streams, with the infrastructure software segment now accounting for nearly 30% of total revenue, up from less than 10% in 2017.

This shift toward software has been strategic, providing Broadcom with higher-margin businesses and more predictable recurring revenue streams. However, it also represents a fundamental transformation of the company’s business model and increased complexity in its operations.

In contrast, Keysight has pursued more organic growth, with annual revenue of approximately $5.4 billion in fiscal year 2022. While significantly smaller than Broadcom in total revenue, Keysight has maintained consistent growth in its core markets, with particular strength in communications and aerospace/defense segments.

Keysight’s growth has been driven by technology transitions (such as 5G deployment) and expansion into adjacent markets rather than transformative acquisitions. This approach has resulted in more modest but consistent revenue growth.

Profitability Metrics

Both companies demonstrate strong profitability, but with different margin profiles reflecting their business models:

Metric	Broadcom	Keysight
Gross Margin	~75%	~63%
Operating Margin	~45%	~26%
Net Income Margin	~35%	~19%

Broadcom’s higher margins reflect its movement into software businesses and its strong position in specialized semiconductor markets where it faces limited competition. The company’s infrastructure software segment typically generates higher margins than its semiconductor business, contributing to overall margin improvement as this segment grows.

Keysight’s margins, while lower than Broadcom’s, are still impressive for a hardware-centric business and reflect the premium nature of its precision instruments and the high barriers to entry in its core markets. The company’s increased focus on software and services has gradually improved margins over time.

Shareholder Returns and Capital Allocation

The companies have divergent approaches to capital allocation and shareholder returns:

Broadcom has increasingly prioritized shareholder returns through both dividends and share repurchases. The company currently offers a dividend yield of approximately 2.3% and has consistently increased its dividend in recent years. Broadcom allocates a significant portion of its free cash flow to shareholder returns while continuing to pursue strategic acquisitions.

This balanced approach to capital allocation has resonated with investors, contributing to Broadcom’s strong stock performance. The company’s shares have significantly outperformed the broader semiconductor index over the past five years.

Keysight has historically focused more on reinvestment for growth rather than direct shareholder returns. The company does not currently pay a dividend, instead prioritizing research and development investments and smaller, targeted acquisitions to expand its technological capabilities.

This growth-focused approach has still delivered strong returns for investors through stock price appreciation, with Keysight shares outperforming many peers in the electronic equipment and instruments industry.

Market Positioning and Competitive Environment

The competitive dynamics facing each company differ significantly based on their core markets:

Broadcom operates in highly consolidated markets where scale provides significant advantages. In many of its semiconductor segments, Broadcom competes primarily with other large players like Intel, Qualcomm, and Marvell Technology. In its software businesses, competitors include IBM, Microsoft, and specialized cybersecurity providers like CrowdStrike and Palo Alto Networks.

The company’s competitive advantages include:

• Vertical integration across hardware and software
• Deep relationships with tier-1 OEMs and hyperscale cloud providers
• Economies of scale in R&D and manufacturing
• Broad product portfolio enabling comprehensive solutions

Keysight similarly holds strong market positions in its core test and measurement markets, competing primarily with companies like Rohde & Schwarz, Anritsu, and National Instruments (now NI). The specialized nature of precision test equipment creates high barriers to entry, protecting Keysight’s market position.

Keysight’s competitive strengths include:

• Unmatched measurement accuracy and precision
• Comprehensive software solutions for test automation
• Early involvement in emerging technology standards
• Strong relationships with research institutions and standards bodies

Technology Applications and Use Cases

Examining how Broadcom and Keysight technologies are applied in real-world scenarios highlights their different but complementary roles in the technology ecosystem.

Broadcom: Enabling Digital Infrastructure

Data Center and Cloud Computing

Broadcom’s technologies form the foundation of modern data center infrastructure. The company’s Tomahawk switch ASICs power the network fabric of hyperscale data centers operated by cloud providers like Amazon Web Services, Microsoft Azure, and Google Cloud. These switches enable the massive east-west traffic flows critical for distributed computing applications.

In addition, Broadcom’s storage controllers and host bus adapters provide the connectivity between servers and storage systems, supporting both traditional SAN architectures and newer NVMe-based deployments.

A typical hyperscale deployment might use Broadcom technology at multiple layers:

# Simplified network architecture using Broadcom components
Internet <-> Border Routers <-> Core Switches (Tomahawk) <-> 
  Top-of-Rack Switches (Trident) <-> Servers with Broadcom NICs

# Storage connectivity
Servers <-> Broadcom HBAs <-> Storage Fabric <-> Storage Arrays

This pervasive presence throughout the data center infrastructure gives Broadcom significant influence over the evolution of cloud computing architectures.

5G Infrastructure

Broadcom’s semiconductor solutions are critical components in 5G network infrastructure. The company provides:

• Front-end modules (FEMs) for 5G base stations
• Mixed-signal ASICs for signal processing
• Custom SoCs for network equipment manufacturers
• Timing and synchronization components for precise network coordination

These components enable the high bandwidth, low latency, and massive connection density that characterize 5G networks.

Enterprise Security

Through its Symantec enterprise business, Broadcom provides comprehensive security solutions for large organizations. A typical deployment might include:

• Endpoint protection on all corporate devices
• Data loss prevention (DLP) monitoring sensitive information flows
• Cloud access security brokers controlling SaaS application usage
• Network security appliances protecting the corporate perimeter

These integrated security solutions are particularly valuable for organizations dealing with complex regulatory compliance requirements and sophisticated threat landscapes.

Keysight: Enabling Technology Innovation

Wireless Research and Development

Keysight’s test equipment plays a crucial role in the development of wireless technologies. For example, in 5G development:

• Signal generators create precise 5G waveforms across multiple frequency bands
• Signal analyzers measure and characterize transmitter performance
• Channel emulators simulate real-world wireless propagation conditions
• Protocol testers verify conformance to 3GPP standards

A typical 5G device development workflow using Keysight equipment might include:

# 5G Device Testing Workflow
1. Design Validation
   - Component characterization using vector network analyzers
   - Subsystem testing with specialized test fixtures
   
2. Conformance Testing
   - RF performance testing against 3GPP specifications
   - Protocol conformance validation
   
3. Operator Acceptance
   - Carrier-specific requirements testing
   - Field-to-lab replay of real-world conditions
   
4. Manufacturing Test
   - Automated test sequences for production lines
   - Calibration and performance verification

This comprehensive testing ensures that devices will perform reliably in real-world deployments across global 5G networks.

Semiconductor Design and Validation

For semiconductor manufacturers (including Broadcom), Keysight provides essential tools for chip development:

• High-speed digital analyzers for characterizing SerDes and other high-speed interfaces
• Parametric analyzers for device characterization
• EDA software for circuit simulation and signal integrity analysis
• Automated test systems for wafer-level testing

These tools help semiconductor companies validate designs before committing to expensive mask sets and manufacturing runs.

Network Security Testing

Keysight’s security testing solutions enable organizations to validate the effectiveness of their security controls:

• Breach and attack simulation tools that continuously test defenses against current threats
• Network packet brokers that provide complete visibility into network traffic
• Traffic generators that can simulate both normal and malicious network loads

These solutions complement the security products offered by companies like Broadcom, allowing organizations to verify that their security implementations are working as expected.

Future Outlook and Strategic Direction

The strategic trajectories of Broadcom and Keysight reveal their distinct approaches to navigating technology trends and market evolution.

Broadcom’s Future Direction

Broadcom’s strategic roadmap indicates several key directions that will shape its future development:

Software-Led Transformation

The acquisition of VMware represents the culmination of Broadcom’s transformation from a pure semiconductor company to a diversified technology provider with significant software assets. This transformation is likely to continue, with software and services becoming an increasingly important part of Broadcom’s business.

The integration of VMware’s virtualization and cloud management capabilities with Broadcom’s existing infrastructure and security software creates a comprehensive enterprise technology stack. This positions the company to offer end-to-end solutions spanning from silicon to application management.

AI Infrastructure Focus

Broadcom is strategically positioning itself as a key enabler of AI infrastructure. The exponential growth in AI workloads requires specialized networking, storage, and compute solutions—areas where Broadcom has strong technology portfolios.

The company’s development of custom ASICs for AI acceleration, combined with its high-speed networking capabilities, addresses the massive data movement requirements of large-scale AI systems. This focus on AI infrastructure aligns with broader industry trends toward increased investment in machine learning capabilities.

Security Consolidation

In the cybersecurity space, Broadcom appears to be pursuing a consolidation strategy, focusing on integrated platforms rather than point solutions. The company’s approach prioritizes deep integration between security components and operational efficiency over feature competition with security-focused vendors.

This strategy may lead to further rationalization of the Symantec product portfolio, focusing on the most profitable enterprise security segments while potentially divesting consumer-oriented security products.

Keysight’s Future Direction

Keysight’s strategic priorities reflect its position as an enabler of technological innovation across multiple industries:

Next-Generation Wireless Leadership

Keysight is making significant investments in developing test solutions for 6G and other advanced wireless technologies. The company’s early research collaborations with academic institutions and standards bodies ensure that it will have measurement solutions ready as these technologies move toward commercialization.

This focus on next-generation wireless extends beyond traditional cellular technologies to include satellite communications, non-terrestrial networks, and integrated sensing and communications capabilities.

Quantum Technology Enablement

Recognizing the transformative potential of quantum computing, Keysight has established itself as a leading provider of test solutions for quantum systems. As quantum computing moves from research laboratories toward commercial applications, Keysight’s measurement expertise will be increasingly valuable.

The company’s quantum solutions business represents a long-term growth opportunity as governments and private enterprises increase investment in quantum technologies.

Software-Defined Measurement

Keysight is evolving its business model toward more software-centric offerings, with increased emphasis on measurement software and analytics. This shift allows the company to capture higher-margin recurring revenue while providing customers with more flexible and scalable measurement capabilities.

The company’s PathWave software platform exemplifies this approach, providing an integrated environment for design, test, and measurement across the product lifecycle.

Comparison Summary: Broadcom vs Keysight Technologies

While both Broadcom and Keysight are technology leaders, they occupy distinct and largely complementary positions in the technology ecosystem:

Aspect	Broadcom	Keysight
Core Business	Semiconductor components, infrastructure software, cybersecurity	Electronic measurement, testing solutions, design software
Market Approach	Vertical integration, end-to-end solutions	Precision measurement expertise, specialized testing
Growth Strategy	Strategic acquisitions, business diversification	Organic growth, technology leadership, targeted acquisitions
Key Strengths	Scale, integration capabilities, broad portfolio	Measurement precision, early involvement in standards, software capabilities
Financial Profile	Higher margins, significant dividends, larger scale	Strong but lower margins, growth-focused, no dividend

For technology professionals and organizations, understanding these differences is crucial for making informed decisions about which company’s solutions best align with specific needs:

• Organizations building data center infrastructure or enterprise security architectures will find Broadcom’s integrated solutions particularly valuable.
• Research institutions, technology developers, and manufacturing operations will benefit from Keysight’s precision measurement capabilities and comprehensive test solutions.

In many cases, both companies’ technologies may be present in the same organizations but serving different functions—Broadcom components powering the infrastructure while Keysight equipment validates its performance and security.

As technology continues to evolve, both companies are well-positioned to benefit from major trends including 5G/6G deployment, AI acceleration, quantum computing, and the ongoing digital transformation of industries worldwide. Their distinct but complementary capabilities ensure they will remain significant players in the technology ecosystem for years to come.

For more detailed financial comparisons between Broadcom and Keysight Technologies, visit Danelfin’s AI-powered stock comparison tool.

To explore technical evaluations of both companies’ infrastructure monitoring tools, check out Gartner’s comprehensive comparison reports.