Guggenheim Capital LLC Raises Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Guggenheim Capital LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 118.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 113,012 shares of the communications equipment provider's stock after purchasing an additional 61,195 shares during the period. Guggenheim Capital LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $911,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after buying an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at about $77,000. Valeo Financial Advisors LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $81,000. Diametric Capital LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $85,000. Finally, Endowment Wealth Management Inc. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $91,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ERIC. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. increased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC traded down $0.04 during trading hours on Friday, hitting $8.19. The stock had a trading volume of 24,266,439 shares, compared to its average volume of 18,197,535. The stock has a market cap of $27.29 billion, a PE ratio of -819,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a 1 year low of $5.00 and a 1 year high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The company's fifty day simple moving average is $7.95 and its 200 day simple moving average is $8.07.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $55.83 billion. Equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

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.