Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Raised to $6.70 at JPMorgan Chase & Co.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price objective boosted by JPMorgan Chase & Co. from $5.90 to $6.70 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the communications equipment provider’s stock.

Separately, StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.5 %

NASDAQ:ERIC opened at $8.46 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $8.62. The company has a 50-day moving average of $7.50 and a 200 day moving average of $6.48. The firm has a market cap of $28.19 billion, a PE ratio of -8.55 and a beta of 0.83.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors have recently added to or reduced their stakes in ERIC. Mercer Global Advisors Inc. ADV raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after purchasing an additional 1,777 shares in the last quarter. Profund Advisors LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock valued at $388,000 after acquiring an additional 1,823 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 2.1% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock valued at $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 worth $87,000 after purchasing an additional 2,024 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 2,458 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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.