Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a report released on Wednesday.

Separately, JPMorgan Chase & Co. upped their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two equities research 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. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $8.50 on Wednesday. The company has a fifty day moving average price of $7.46 and a 200 day moving average price of $6.45. The firm has a market cap of $28.33 billion, a PE ratio of -8.59 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $8.62.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ERIC. Advisors Asset Management Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 4.4% during the 1st quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock worth $1,047,000 after buying an additional 8,086 shares in the last quarter. First Affirmative Financial Network raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 2,268 shares in the last quarter. QRG Capital Management Inc. boosted 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 purchasing an additional 120,072 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock valued at $3,890,000 after purchasing an additional 584,201 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth approximately $1,545,000. Institutional investors own 7.99% of the company’s stock.

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.