Dynamic Technology Lab Private Ltd Purchases Shares of 57,909 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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

Several other institutional investors also recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after acquiring an additional 13,531,221 shares during the last quarter. DigitalBridge Group Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after acquiring an additional 785,261 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $17,940,000. Acadian Asset Management LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $11,869,000. Finally, Marshall Wace LLP grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% during the 2nd quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after buying an additional 535,933 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.5 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.14 on Friday. The company has a fifty day moving average price of $8.05 and a 200 day moving average price of $7.09. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The stock 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 (publ) (NASDAQ:ERIC) last announced its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ERIC. 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. JPMorgan Chase & Co. boosted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has a consensus rating of “Hold” and a consensus price target of $6.70.

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.