CWA Asset Management Group LLC Takes Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

CWA Asset Management Group LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 285,146 shares of the communications equipment provider’s stock, valued at approximately $2,298,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ERIC. 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 worth $56,000 after acquiring an additional 2,458 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 19.2% in the 2nd quarter. Natixis Advisors LLC now owns 93,150 shares of the communications equipment provider’s stock worth $575,000 after purchasing an additional 15,006 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 49.0% in the 2nd quarter. Lake Street Advisors Group LLC now owns 15,341 shares of the communications equipment provider’s stock worth $95,000 after purchasing an additional 5,047 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at about $11,869,000. Finally, Caprock Group LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 14.7% during the 2nd quarter. Caprock Group LLC now owns 68,230 shares of the communications equipment provider’s stock valued at $421,000 after purchasing an additional 8,731 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ERIC shares. JPMorgan Chase & Co. upped their target price on shares of 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 raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.5 %

ERIC opened at $8.19 on Tuesday. The stock has a market capitalization of $27.29 billion, a price-to-earnings ratio of -273.00 and a beta of 0.79. The firm has a 50 day moving average price of $8.19 and a 200-day moving average price of $7.51. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. 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 (publ) (NASDAQ:ERIC) last posted its earnings results 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 business had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current 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.