Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICFree Report) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Separately, JPMorgan Chase & Co. boosted their price target on shares of 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.

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Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.62 on Friday. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of -254.00 and a beta of 0.79. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The company’s fifty day moving average is $8.23 and its 200 day moving average is $7.72.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) last issued its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 3,924 shares during the period. Vest Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth $77,000. GAMMA Investing LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 92.8% in the 3rd quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock worth $80,000 after purchasing an additional 5,070 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at $81,000. Finally, Assetmark Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% during the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock worth $94,000 after buying an additional 11,708 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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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.

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