Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 12-Month High – Should You Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.62 and last traded at $8.64, with a volume of 782823 shares traded. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The stock has a fifty day moving average of $8.20 and a 200-day moving average of $7.68. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baldwin Wealth Partners LLC MA boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 187.6% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 51,916 shares of the communications equipment provider’s stock valued at $418,000 after acquiring an additional 33,865 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $427,000. Blue Trust Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 42.0% in the fourth quarter. Blue Trust Inc. now owns 66,612 shares of the communications equipment provider’s stock valued at $505,000 after acquiring an additional 19,705 shares during the period. Shilanski & Associates Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $250,000. Finally, SG Americas Securities LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 11.5% during the fourth quarter. SG Americas Securities LLC now owns 156,746 shares of the communications equipment provider’s stock worth $1,263,000 after purchasing an additional 16,168 shares during the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

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.