Natixis Advisors LLC Has $3.98 Million Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Natixis Advisors LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 463.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 524,487 shares of the communications equipment provider’s stock after buying an additional 431,337 shares during the period. Natixis Advisors LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,976,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares in the last quarter. BOKF NA bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 2,458 shares in the last quarter. Finally, Vest Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $77,000. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $8.14 on Friday. The stock has a market cap of $27.13 billion, a price-to-earnings ratio of -271.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The company has a 50 day simple moving average of $7.97 and a 200 day simple moving average of $7.00. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ERIC. JPMorgan Chase & Co. upped their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note 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 analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.70.

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.