Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Position Decreased by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 67.1% during the second quarter, Holdings Channel reports. The firm owned 242,082 shares of the communications equipment provider’s stock after selling 493,416 shares during the period. Federated Hermes Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ERIC. Hotchkis & Wiley Capital Management LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after buying an additional 4,351,420 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $11,869,000. Oppenheimer & Co. Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 164.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 862,856 shares of the communications equipment provider’s stock worth $5,324,000 after acquiring an additional 536,807 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of 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 worth $4,100,000 after acquiring an additional 692,804 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after purchasing an additional 584,201 shares during the period. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.5 %

Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.57 on Friday. The company has a 50 day moving average price of $7.04 and a 200 day moving average price of $6.14. 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 52 week low of $4.33 and a 52 week high of $7.65. The firm has a market capitalization of $25.23 billion, a price-to-earnings ratio of -7.65 and a beta of 0.83.

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 for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Company 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.