Dynamic Technology Lab Private Ltd Takes $439,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 57,909 shares of the communications equipment provider’s stock, valued at approximately $439,000.

Several other large investors also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after acquiring an additional 1,777 shares in the last quarter. Profund Advisors LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock worth $388,000 after purchasing an additional 1,823 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 16.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock worth $87,000 after purchasing an additional 2,024 shares in the last quarter. Pitcairn Co. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 14.7% in the third quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider’s stock worth $135,000 after purchasing an additional 2,279 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 2,458 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on ERIC shares. JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com raised shares of 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ ERIC opened at $8.14 on Friday. 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 firm’s 50-day moving average price is $8.05 and its two-hundred day moving average price is $7.09. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.62. The stock has a market capitalization of $27.13 billion, a P/E ratio of -271.33 and a beta of 0.81.

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