QRG Capital Management Inc. Buys 328,156 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

QRG Capital Management Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 174.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 516,387 shares of the communications equipment provider’s stock after acquiring an additional 328,156 shares during the quarter. QRG Capital Management Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,914,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at $36,000. BNP Paribas Financial Markets boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% in the 1st quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider’s stock valued at $4,100,000 after purchasing an additional 692,804 shares during the period. SG Americas Securities LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth approximately $926,000. Headlands Technologies LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth approximately $85,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 20.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 334,701 shares of the communications equipment provider’s stock valued at $1,844,000 after buying an additional 56,532 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ERIC shares. JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ:ERIC opened at $8.18 on Thursday. The firm has a 50 day moving average of $7.79 and a 200-day moving average of $6.76. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.54 and a 12 month high of $8.62. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $27.26 billion, a PE ratio of -272.67 and a beta of 0.81.

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.