Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Bought by Fmr LLC

Fmr LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 23.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,412,480 shares of the communications equipment provider’s stock after acquiring an additional 463,415 shares during the period. Fmr LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $18,287,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ERIC. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $41,000. Hexagon Capital Partners LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 2,458 shares in the last quarter. Vest Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $77,000. Finally, Choreo LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $78,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.6 %

Shares of NASDAQ ERIC opened at $8.32 on Wednesday. The company has a market cap of $27.73 billion, a price-to-earnings ratio of -277.33 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $8.12 and its 200 day simple moving average is $7.22.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

About Telefonaktiebolaget LM Ericsson (publ)

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.