Two Sigma Advisers LP Acquires 2,020,200 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Two Sigma Advisers LP increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 17,266.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,031,900 shares of the communications equipment provider's stock after buying an additional 2,020,200 shares during the quarter. Two Sigma Advisers LP owned 0.06% of Telefonaktiebolaget LM Ericsson (publ) worth $15,402,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ERIC. Bank of Montreal Can grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider's stock worth $83,788,000 after buying an additional 13,531,221 shares during the last quarter. DigitalBridge Group Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider's stock worth $30,961,000 after acquiring an additional 785,261 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth about $17,940,000. FMR LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the third quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider's stock valued at $18,287,000 after purchasing an additional 463,415 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at about $11,869,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ERIC has been the subject of several recent research reports. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.5 %

Shares of ERIC traded up $0.04 during mid-day trading on Monday, reaching $8.37. 14,310,414 shares of the company were exchanged, compared to its average volume of 16,855,025. The business has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $7.22. 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 stock has a market capitalization of $27.89 billion, a PE ratio of -279.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.62.

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

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.