Harvest Fund Management Co. Ltd Buys New Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, HoldingsChannel reports. The firm purchased 17,910 shares of the communications equipment provider’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ERIC. Sequoia Financial Advisors LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock worth $2,277,000 after buying an additional 290,949 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after purchasing an additional 3,201 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 186.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 47,858 shares of the communications equipment provider’s stock worth $302,000 after buying an additional 31,135 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $38,000. Finally, Ritholtz Wealth Management grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.9% during the 4th quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock valued at $870,000 after acquiring an additional 12,391 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ERIC shares. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Barclays cut shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. UBS Group cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reduced their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.8 %

ERIC stock opened at $5.24 on Friday. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $6.36. The company’s 50 day moving average price is $5.36 and its 200 day moving average price is $5.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.22.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. During the same quarter in the prior year, the business posted $0.20 EPS. As a group, analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.39 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) 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.