22,763 Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Acquired by Parametrica Management Ltd

Parametrica Management Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 22,763 shares of the communications equipment provider’s stock, valued at approximately $173,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ERIC. Advisors Asset Management Inc. increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 4.4% in the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock worth $1,047,000 after buying an additional 8,086 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the 2nd 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 during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock valued at $3,890,000 after purchasing an additional 584,201 shares in the last quarter. US Bancorp DE lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the 3rd quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 146,141 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth $1,545,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.07 on Wednesday, reaching $8.01. 3,818,114 shares of the stock were exchanged, compared to its average volume of 16,633,830. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.75 and a twelve month high of $8.62. The firm has a fifty day moving average price of $7.86 and a two-hundred day moving average price of $6.85. The stock has a market cap of $26.69 billion, a PE ratio of -269.33 and a beta of 0.81.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share 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 analysts’ expectations 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%. Sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price 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. 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 analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has an average 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.