Paloma Partners Management Co Buys New Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Paloma Partners Management Co purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 400,000 shares of the communications equipment provider’s stock, valued at approximately $3,032,000.

Several other institutional investors have also bought and sold shares of the business. Tidal Investments LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 102.3% during the first quarter. Tidal Investments LLC now owns 23,439 shares of the communications equipment provider’s stock valued at $129,000 after purchasing an additional 11,850 shares during the period. Cetera Advisors LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 97.8% during the 1st quarter. Cetera Advisors LLC now owns 22,107 shares of the communications equipment provider’s stock valued at $122,000 after buying an additional 10,929 shares during the period. GAMMA Investing LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 3,101 shares during the last quarter. First Affirmative Financial Network boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 18.2% during the second quarter. First Affirmative Financial Network now owns 31,139 shares of the communications equipment provider’s stock worth $192,000 after buying an additional 4,785 shares during the period. Finally, QRG Capital Management Inc. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock valued at $1,161,000 after acquiring an additional 120,072 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ERIC shares. JPMorgan Chase & Co. raised their target price 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 shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.5 %

NASDAQ:ERIC opened at $8.14 on Monday. The company has a market cap of $27.13 billion, a price-to-earnings ratio of -271.33 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $8.05 and a 200-day simple moving average of $7.11.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates 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%. Analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

About Telefonaktiebolaget LM Ericsson (publ)

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.