89,224 Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Purchased by Virtu Financial LLC

Virtu Financial LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 89,224 shares of the communications equipment provider’s stock, valued at approximately $562,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERIC. Hotchkis & Wiley Capital Management LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after purchasing an additional 4,351,420 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after buying an additional 819,083 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake 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. Mirae Asset Global Investments Co. Ltd. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 32.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 574,164 shares of the communications equipment provider’s stock worth $3,617,000 after buying an additional 140,462 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $584,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC opened at $5.86 on Tuesday. The firm has a market capitalization of $19.51 billion, a P/E ratio of -8.37 and a beta of 0.82. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $6.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.94. The business’s 50-day simple moving average is $5.56 and its 200-day simple moving average is $5.64.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.33 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. Equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.38 EPS for the current 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.