Gateway Investment Advisers LLC Has $255,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Gateway Investment Advisers LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 225.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,340 shares of the communications equipment provider’s stock after acquiring an additional 32,117 shares during the period. Gateway Investment Advisers LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Planned Solutions Inc. bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $38,000. Lake Street Advisors Group LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $64,000. NBC Securities Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 7,744 shares during the last quarter. 626 Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $72,000. Finally, International Assets Investment Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $103,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.8 %

Shares of NASDAQ ERIC opened at $6.02 on Thursday. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $6.36. The company has a market cap of $20.06 billion, a PE ratio of -8.60 and a beta of 0.82. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $5.68 and a two-hundred day moving average of $5.66.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.33 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. As a group, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. cut their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.58.

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.