Hennessy Advisors Inc. Reduces Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Hennessy Advisors Inc. reduced its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 24.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,299 shares of the communications equipment provider’s stock after selling 5,779 shares during the period. Hennessy Advisors Inc.’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $101,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ERIC. Hotchkis & Wiley Capital Management LLC grew its holdings 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 valued at $921,604,000 after buying an additional 4,351,420 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the 4th 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 32.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 574,164 shares of the communications equipment provider’s stock valued at $3,617,000 after buying an additional 140,462 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 412.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after buying an additional 290,949 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings 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 buying an additional 12,391 shares during the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ERIC has been the topic of a number of analyst reports. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. decreased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating on the stock in a 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $6.17 on Friday. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $6.36. The stock’s fifty day simple moving average is $5.74 and its 200-day simple moving average is $5.67. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $20.56 billion, a price-to-earnings ratio of -8.81 and a beta of 0.82.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.38 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.