Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 12-Month High - Still a Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.25 and last traded at $8.25, with a volume of 519080 shares. The stock had previously closed at $7.54.

Analyst Upgrades and Downgrades

ERIC has been the topic of a number of recent analyst reports. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a "neutral" rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of "Hold" and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of -8.62 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. The firm's fifty day moving average price is $7.32 and its 200 day moving average price is $6.38.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.29 billion. Analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider's stock worth $34,000 after buying an additional 3,101 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at $36,000. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $41,000. Hexagon Capital Partners LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock valued at $43,000 after acquiring an additional 3,924 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider's stock valued at $59,000 after purchasing an additional 7,744 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company's stock.

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.