NorthCrest Asset Manangement LLC Reduces Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

NorthCrest Asset Manangement LLC reduced its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,014 shares of the communications equipment provider’s stock after selling 4,800 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ERIC. GAMMA Investing LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 3,101 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at about $36,000. BOKF NA purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares during the last quarter. Finally, Williams & Novak LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $76,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.7 %

Shares of NASDAQ ERIC opened at $8.44 on Monday. The company has a market capitalization of $28.13 billion, a P/E ratio of -8.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The company has a 50 day simple moving average of $7.62 and a 200-day simple moving average of $6.58. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $8.62.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ERIC shares. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.