BNP Paribas Financial Markets Increases Stock Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

BNP Paribas Financial Markets increased its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 99.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,894 shares of the communications equipment provider’s stock after purchasing an additional 239,651 shares during the period. BNP Paribas Financial Markets’ holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ERIC. GAMMA Investing LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 3,101 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 3,924 shares during the last quarter. BOKF NA acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $41,000. Allspring Global Investments Holdings LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 2,458 shares during the last quarter. Finally, Vest Financial LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at $77,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.0 %

Shares of ERIC opened at $8.28 on Thursday. The stock’s 50-day moving average is $8.08 and its two-hundred day moving average is $7.15. The stock has a market cap of $27.59 billion, a PE ratio of -276.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95.

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

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.