BNP Paribas Financial Markets Has $3.64 Million Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

BNP Paribas Financial Markets grew its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 99.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,894 shares of the communications equipment provider's stock after buying an additional 239,651 shares during the period. BNP Paribas Financial Markets' holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,638,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ERIC. GAMMA Investing LLC raised its position in 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 purchasing an additional 3,101 shares during the period. BOKF NA purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock valued at $43,000 after purchasing an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 2,458 shares during the period. Finally, Williams & Novak LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $76,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.1 %

NASDAQ:ERIC traded up $0.17 during mid-day trading on Thursday, reaching $8.45. The company's stock had a trading volume of 28,946,660 shares, compared to its average volume of 16,887,771. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The company's fifty day simple moving average is $8.09 and its two-hundred day simple moving average is $7.16. The stock has a market cap of $28.16 billion, a P/E ratio of -281.67 and a beta of 0.79. 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 (publ) (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. On average, equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

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.