Hsbc Holdings PLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Free Report) in the second quarter, Holdings Channel reports. The firm bought 2,914,726 shares of the communications equipment provider’s stock, valued at approximately $17,940,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.1% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after purchasing an additional 4,351,420 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth about $11,869,000. Oppenheimer & Co. Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 164.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 862,856 shares of the communications equipment provider’s stock valued at $5,324,000 after acquiring an additional 536,807 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 valued at $4,100,000 after acquiring an additional 692,804 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock valued at $3,890,000 after acquiring an additional 584,201 shares during the period. Institutional investors own 7.99% of the company’s stock.
Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.5 %
NASDAQ:ERIC opened at $7.57 on Monday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $7.65. The stock has a 50-day moving average price of $7.04 and a two-hundred day moving average price of $6.15. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of -7.65 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has a consensus rating of “Hold” and a consensus target price of $5.90.
Get Our Latest Report on Telefonaktiebolaget LM Ericsson (publ)
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.
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