Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Raised to $6.70 at JPMorgan Chase & Co.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) had its price target upped by research analysts at JPMorgan Chase & Co. from $5.90 to $6.70 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the communications equipment provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 20.80% from the stock's current price.

Separately, StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.5 %

ERIC stock traded down $0.04 during mid-day trading on Monday, reaching $8.46. The company's stock had a trading volume of 21,452,313 shares, compared to its average volume of 16,673,818. The company has a market cap of $28.19 billion, a price-to-earnings ratio of -8.55 and a beta of 0.83. The business's 50 day moving average price is $7.46 and its 200 day moving average price is $6.46. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $8.62.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently modified their holdings of ERIC. Mercer Global Advisors Inc. ADV boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider's stock valued at $632,000 after buying an additional 1,777 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider's stock valued at $388,000 after buying an additional 1,823 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider's stock valued at $527,000 after buying an additional 2,000 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider's stock valued at $87,000 after buying an additional 2,024 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during 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 buying an additional 2,458 shares during the last quarter. 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.