Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 62.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,666,700 shares of the communications equipment provider’s stock after selling 6,011,900 shares during the quarter. Renaissance Technologies LLC owned about 0.11% of Telefonaktiebolaget LM Ericsson (publ) worth $22,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ERIC. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after purchasing an additional 2,000 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 16.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock valued at $87,000 after buying an additional 2,024 shares during the last quarter. First Affirmative Financial Network boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 2,268 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 2,458 shares during the last quarter. Finally, Aprio Wealth Management LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the 1st quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock valued at $97,000 after acquiring an additional 2,609 shares during the period. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two equities 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $7.57 on Friday. The business’s fifty day moving average price is $7.04 and its 200 day moving average price is $6.14. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $7.65. The company has a market capitalization of $25.23 billion, a PE ratio of -7.65 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.29 billion. On average, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

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.