QRG Capital Management Inc. Purchases 328,156 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

QRG Capital Management Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 174.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 516,387 shares of the communications equipment provider's stock after buying an additional 328,156 shares during the period. QRG Capital Management Inc.'s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,914,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at about $36,000. BNP Paribas Financial Markets grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% during the 1st quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider's stock valued at $4,100,000 after buying an additional 692,804 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at approximately $926,000. Headlands Technologies LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth $85,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 334,701 shares of the communications equipment provider's stock worth $1,844,000 after acquiring an additional 56,532 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.9 %

Shares of NASDAQ:ERIC traded up $0.07 during trading on Thursday, hitting $8.25. The company had a trading volume of 16,772,419 shares, compared to its average volume of 16,694,756. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of -274.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The company has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $6.76. Telefonaktiebolaget LM Ericsson has a one year low of $4.54 and a one year high of $8.62.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ERIC shares. JPMorgan Chase & Co. lifted their target price on 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 Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.