SG Americas Securities LLC Sells 129,193 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

SG Americas Securities LLC lessened its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 47.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140,578 shares of the communications equipment provider’s stock after selling 129,193 shares during the quarter. SG Americas Securities LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake 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 valued at $34,000 after buying an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth approximately $36,000. BOKF NA bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $41,000. NBC Securities Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after acquiring an additional 7,744 shares in the last quarter. Finally, Williams & Novak LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $76,000. 7.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ERIC has been the topic of several analyst reports. StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research note on Monday, July 15th. Two equities 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 company’s stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC opened at $7.45 on Friday. The firm’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $6.33. The stock has a market cap of $24.83 billion, a PE ratio of -7.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $7.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share 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 company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.29 billion. On average, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 EPS 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.