Boothbay Fund Management LLC Has $18.20 Million Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Boothbay Fund Management LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 20.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,257,459 shares of the communications equipment provider’s stock after buying an additional 383,463 shares during the quarter. Telefonaktiebolaget LM Ericsson (publ) accounts for 0.5% of Boothbay Fund Management LLC’s portfolio, making the stock its 29th largest position. Boothbay Fund Management LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $18,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock valued at $109,673,000 after acquiring an additional 10,891,451 shares during the period. National Bank of Canada FI purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $23,440,000. Sei Investments Co. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock worth $38,755,000 after buying an additional 1,705,246 shares during the period. Trexquant Investment LP purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $8,746,000. Finally, US Bancorp DE raised its position in Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the fourth quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock valued at $7,806,000 after buying an additional 787,154 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 $8.19 on Friday. The firm has a market cap of $27.29 billion, a price-to-earnings ratio of -819,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. The stock has a 50-day simple moving average of $7.95 and a 200-day simple moving average of $8.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.00 and a 52-week high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $55.83 billion. On average, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERIC has been the topic of several research analyst reports. Kepler Capital Markets raised Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th.

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.