321,586 Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Purchased by XY Capital Ltd

XY Capital Ltd acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 321,586 shares of the communications equipment provider’s stock, valued at approximately $1,984,000. Telefonaktiebolaget LM Ericsson (publ) accounts for about 1.3% of XY Capital Ltd’s portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.1% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after purchasing an additional 4,351,420 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after buying an additional 819,083 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% in the first quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider’s stock worth $4,100,000 after buying an additional 692,804 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after buying an additional 584,201 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 576,227 shares of the communications equipment provider’s stock valued at $3,175,000 after acquiring an additional 10,935 shares during the period. Institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.37 on Friday. The stock has a market cap of $24.56 billion, a price-to-earnings ratio of -7.44 and a beta of 0.84. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $6.81 and a 200 day simple moving average of $5.99. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $7.48.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. On average, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

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.