Choreo LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,608 shares of the communications equipment provider’s stock, valued at approximately $78,000.
A number of other hedge funds have also modified their holdings of the stock. Koss Olinger Consulting LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth $1,221,000. Caprock Group LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.7% in the 2nd quarter. Caprock Group LLC now owns 68,230 shares of the communications equipment provider’s stock worth $421,000 after acquiring an additional 8,731 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth $11,869,000. Lake Street Advisors Group LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 49.0% in the 2nd quarter. Lake Street Advisors Group LLC now owns 15,341 shares of the communications equipment provider’s stock worth $95,000 after acquiring an additional 5,047 shares during the last quarter. Finally, XY Capital Ltd acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth $1,984,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.
Telefonaktiebolaget LM Ericsson (publ) Stock Performance
Shares of ERIC stock opened at $7.57 on Friday. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.65. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $25.23 billion, a price-to-earnings ratio of -7.65 and a beta of 0.83. The stock’s fifty day simple moving average is $7.04 and its 200-day simple moving average is $6.14.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.90.
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.
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