MML Investors Services LLC Boosts Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

MML Investors Services LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 154.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 56,837 shares of the communications equipment provider’s stock after buying an additional 34,521 shares during the quarter. MML Investors Services LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $431,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ERIC. XTX Topco Ltd purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $2,800,000. Two Sigma Advisers LP boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares in the last quarter. Quantinno Capital Management LP increased its position in Telefonaktiebolaget LM Ericsson (publ) by 35.9% during the 3rd quarter. Quantinno Capital Management LP now owns 579,054 shares of the communications equipment provider’s stock worth $4,389,000 after purchasing an additional 153,084 shares during the period. HighTower Advisors LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 19.6% during the 3rd quarter. HighTower Advisors LLC now owns 103,434 shares of the communications equipment provider’s stock worth $782,000 after buying an additional 16,919 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth approximately $3,032,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ERIC shares. JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC opened at $8.11 on Tuesday. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62. The stock has a market cap of $27.03 billion, a P/E ratio of -270.33 and a beta of 0.79. The stock’s 50 day simple moving average is $8.25 and its 200 day simple moving average is $7.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Company 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.