XY Capital Ltd Invests $1.98 Million in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

XY Capital Ltd bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 321,586 shares of the communications equipment provider's stock, valued at approximately $1,984,000. Telefonaktiebolaget LM Ericsson (publ) comprises 1.3% of XY Capital Ltd's portfolio, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% in 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 period. Dynamic Advisor Solutions LLC raised its stake 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 acquiring an additional 2,024 shares during the last quarter. First Affirmative Financial Network raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider's stock valued at $145,000 after acquiring an additional 2,268 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $56,000 after purchasing an additional 2,458 shares during the period. Finally, Aprio Wealth Management LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the first quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 2,609 shares during the last quarter. Institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 2.0 %

Shares of NASDAQ ERIC traded down $0.15 during midday trading on Friday, reaching $7.22. The stock had a trading volume of 17,911,307 shares, compared to its average volume of 16,854,098. The company's 50 day moving average price is $6.83 and its 200 day moving average price is $6.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $7.48. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of -7.29 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.29 billion. As a group, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a "neutral" rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.90.

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.