Virtu Financial LLC Makes New $601,000 Investment in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Virtu Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 79,259 shares of the communications equipment provider's stock, valued at approximately $601,000.

Several other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth $1,645,000. MML Investors Services LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 154.7% during the 3rd quarter. MML Investors Services LLC now owns 56,837 shares of the communications equipment provider's stock worth $431,000 after purchasing an additional 34,521 shares during the period. XTX Topco Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at about $2,800,000. Two Sigma Advisers LP boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider's stock valued at $15,402,000 after buying an additional 2,020,200 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 35.9% during the third quarter. Quantinno Capital Management LP now owns 579,054 shares of the communications equipment provider's stock worth $4,389,000 after buying an additional 153,084 shares during the period. 7.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted 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 Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.9 %

ERIC traded up $0.07 on Friday, reaching $8.30. The company's stock had a trading volume of 13,878,224 shares, compared to its average volume of 16,852,766. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.62. The stock has a 50 day moving average of $8.19 and a two-hundred day moving average of $7.27. The company has a market capitalization of $27.66 billion, a price-to-earnings ratio of -276.67 and a beta of 0.79.

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

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.