Syon Capital LLC Decreases Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Syon Capital LLC lowered its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 52.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,418 shares of the communications equipment provider's stock after selling 99,938 shares during the quarter. Syon Capital LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ERIC. Virtu Financial LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at about $601,000. Sanctuary Advisors LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider's stock valued at $193,000 after buying an additional 10,530 shares during the period. Tidal Investments LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 11.1% during the third quarter. Tidal Investments LLC now owns 30,197 shares of the communications equipment provider's stock valued at $229,000 after buying an additional 3,026 shares during the last quarter. GAMMA Investing LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 33.7% in the fourth quarter. GAMMA Investing LLC now owns 14,082 shares of the communications equipment provider's stock worth $114,000 after acquiring an additional 3,548 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $2,298,000. Hedge funds and other institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of ERIC traded down $0.04 during trading hours on Friday, reaching $8.19. 24,266,439 shares of the stock traded hands, compared to its average volume of 18,197,535. The company has a market cap of $27.29 billion, a P/E ratio of -819,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The company's 50-day moving average price is $7.95 and its two-hundred day moving average price is $8.07. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.00 and a 52-week high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $55.83 billion. On average, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

Analysts Set New Price Targets

ERIC has been the subject of several analyst reports. Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th.

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.