Cable Hill Partners LLC Takes $234,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Cable Hill Partners LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,823 shares of the communications equipment provider’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ERIC. Advisors Asset Management Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% during the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock worth $1,047,000 after purchasing an additional 8,086 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock worth $1,161,000 after purchasing an additional 120,072 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after purchasing an additional 584,201 shares in the last quarter. US Bancorp DE grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% during the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock worth $1,374,000 after purchasing an additional 146,141 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth about $1,545,000. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.1 %

Shares of ERIC opened at $8.00 on Friday. The firm has a market cap of $26.66 billion, a P/E ratio of -266.67 and a beta of 0.81. The stock has a 50 day simple moving average of $7.87 and a two-hundred day simple moving average of $6.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its 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 during the quarter, compared to analyst estimates 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%. On average, analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Telefonaktiebolaget LM Ericsson (publ) Company 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.