Paloma Partners Management Co Takes $3.03 Million Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Paloma Partners Management Co acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 400,000 shares of the communications equipment provider's stock, valued at approximately $3,032,000.

A number of other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider's stock valued at $34,000 after purchasing an additional 3,101 shares during the last quarter. BOKF NA bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $41,000. Hexagon Capital Partners LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock valued at $43,000 after buying an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider's stock worth $56,000 after buying an additional 2,458 shares during the period. Finally, Williams & Novak LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $76,000. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.1 %

NASDAQ:ERIC traded up $0.09 during trading hours on Monday, reaching $8.23. The company's stock had a trading volume of 11,705,144 shares, compared to its average volume of 16,849,881. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The company has a market capitalization of $27.43 billion, a P/E ratio of -271.33 and a beta of 0.81. The stock has a 50 day moving average price of $8.05 and a two-hundred day moving average price of $7.11. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. Equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a "neutral" rating in a report on Monday, October 21st. 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.70.

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.