Caprock Group LLC Makes New Investment in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Caprock Group LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 145,036 shares of the communications equipment provider's stock, valued at approximately $1,169,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock worth $43,000 after acquiring an additional 3,924 shares during the last quarter. Vest Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth approximately $77,000. GAMMA Investing LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 92.8% during the 3rd quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider's stock valued at $80,000 after purchasing an additional 5,070 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth $81,000. Finally, Assetmark Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the 3rd quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider's stock valued at $94,000 after acquiring an additional 11,708 shares during the period. 7.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ERIC. StockNews.com lowered Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ:ERIC traded down $0.05 during trading hours on Thursday, reaching $7.55. The company had a trading volume of 13,130,836 shares, compared to its average volume of 18,504,172. The firm has a market cap of $25.16 billion, a PE ratio of -755,000.00, a price-to-earnings-growth ratio of 3.64 and a beta of 0.77. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90. The business's 50 day moving average price is $8.14 and its 200-day moving average price is $7.78. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 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.