GAMMA Investing LLC Purchases 5,070 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

GAMMA Investing LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 92.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,534 shares of the communications equipment provider’s stock after purchasing an additional 5,070 shares during the period. GAMMA Investing LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $80,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after buying an additional 13,531,221 shares during the last quarter. DigitalBridge Group Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% during 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 purchasing an additional 785,261 shares during the last quarter. Hsbc Holdings PLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $17,940,000. Acadian Asset Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $11,869,000. Finally, Marshall Wace LLP raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after purchasing an additional 535,933 shares during the period. Institutional investors and hedge funds own 7.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective 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. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC opened at $7.54 on Tuesday. The firm has a 50-day moving average price of $7.32 and a two-hundred day moving average price of $6.38. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $7.83. The company has a market capitalization of $25.13 billion, a P/E ratio of -7.62 and a beta of 0.83. 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 (publ) (NASDAQ:ERIC) last issued its quarterly 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 positive return on equity of 11.39% and a negative net margin of 14.13%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.29 billion. Analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current 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.