Y Intercept Hong Kong Ltd Takes $1.65 Million Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Y Intercept Hong Kong Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 217,072 shares of the communications equipment provider's stock, valued at approximately $1,645,000.

Several other large investors also recently modified their holdings of ERIC. Cetera Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 97.8% in the 1st quarter. Cetera Advisors LLC now owns 22,107 shares of the communications equipment provider's stock valued at $122,000 after purchasing an additional 10,929 shares during the period. SG Americas Securities LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 60.6% in the 2nd quarter. SG Americas Securities LLC now owns 269,771 shares of the communications equipment provider's stock valued at $1,664,000 after purchasing an additional 101,748 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider's stock valued at $87,000 after purchasing an additional 2,024 shares during the period. Blue Trust Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 244.0% during the 2nd quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider's stock worth $103,000 after acquiring an additional 11,791 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 30.9% during the 2nd quarter. Hennessy Advisors Inc. now owns 23,957 shares of the communications equipment provider's stock worth $148,000 after acquiring an additional 5,658 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.6 %

NASDAQ:ERIC traded down $0.05 during trading hours on Wednesday, hitting $8.27. 22,629,584 shares of the stock were exchanged, compared to its average volume of 16,873,404. The company's 50 day moving average is $8.14 and its two-hundred day moving average is $7.23. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $27.56 billion, a P/E ratio of -275.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate 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%. On average, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective 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. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.70.

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.