Lake Street Advisors Group LLC Raises Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Lake Street Advisors Group LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 49.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,341 shares of the communications equipment provider’s stock after purchasing an additional 5,047 shares during the period. Lake Street Advisors Group LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $95,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after acquiring an additional 2,000 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings 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 valued at $87,000 after purchasing an additional 2,024 shares during the last quarter. First Affirmative Financial Network increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 2,268 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 2,458 shares in the last quarter. Finally, Aprio Wealth Management LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the 1st quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock worth $97,000 after buying an additional 2,609 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on shares of 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 research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC opened at $7.30 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $7.48. The business has a fifty day moving average of $6.85 and a 200-day moving average of $6.03. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of -7.37 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.29 billion. As a group, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

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.