Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 19.1% in the fourth quarter, HoldingsChannel reports. The fund owned 40,252 shares of the communications equipment provider’s stock after buying an additional 6,442 shares during the quarter. Atomi Financial Group Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Two Sigma Advisers LP increased its position in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock worth $15,402,000 after purchasing an additional 2,020,200 shares in the last quarter. Marshall Wace LLP increased its position in Telefonaktiebolaget LM Ericsson (publ) by 39.3% during the 2nd quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock worth $11,711,000 after purchasing an additional 535,933 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $3,027,000. Millennium Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $2,896,000. Finally, FMR LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock worth $18,287,000 after purchasing an additional 463,415 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ERIC. StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.62 on Friday. The stock has a market cap of $25.39 billion, a P/E ratio of -254.00 and a beta of 0.79. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $8.23 and a 200-day moving average of $7.71. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. On average, analysts expect that Telefonaktiebolaget LM Ericsson will post 0.47 EPS 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.