Fmr LLC Buys 463,415 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

FMR LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 23.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,412,480 shares of the communications equipment provider's stock after acquiring an additional 463,415 shares during the quarter. FMR LLC owned about 0.07% of Telefonaktiebolaget LM Ericsson (publ) worth $18,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ERIC. Hexagon Capital Partners LLC increased its position in 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 worth $43,000 after buying an additional 3,924 shares during the period. BOKF NA acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at approximately $41,000. Allspring Global Investments Holdings LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider's stock worth $56,000 after acquiring an additional 2,458 shares during the period. Vest Financial LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $77,000. Finally, GAMMA Investing LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 92.8% in the 3rd quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider's stock valued at $80,000 after buying an additional 5,070 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.6 %

Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.05 during mid-day trading on Wednesday, hitting $8.27. 22,629,584 shares of the company's stock were exchanged, compared to its average volume of 16,873,404. 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 has a market cap of $27.56 billion, a P/E ratio of -275.00 and a beta of 0.79. The stock has a 50 day moving average of $8.14 and a two-hundred day moving average of $7.23. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $5.93 billion for 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%. As a group, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ERIC has been the topic of several recent research reports. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note 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 research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) has an average rating of "Hold" and an average 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.