Seven Eight Capital LP Makes New $348,000 Investment in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Seven Eight Capital LP bought a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 56,472 shares of the communications equipment provider’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter worth about $36,000. BOKF NA bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth about $41,000. Lake Street Advisors Group LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $64,000. Finally, NBC Securities Inc. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their target price on shares of 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 investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.5 %

Shares of NASDAQ ERIC opened at $7.57 on Monday. The firm’s 50 day moving average price is $7.04 and its 200-day moving average price is $6.15. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $7.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. The company has a market cap of $25.23 billion, a PE ratio of -7.65 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. On average, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal 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.