DRW Securities LLC Takes $306,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

DRW Securities LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 49,750 shares of the communications equipment provider’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock worth $388,000 after buying an additional 1,823 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $348,000. Hsbc Holdings PLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $17,940,000. Vanguard Personalized Indexing Management LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 14.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 119,097 shares of the communications equipment provider’s stock valued at $735,000 after purchasing an additional 14,806 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after purchasing an additional 1,777 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $7.57 on Tuesday. 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 firm has a market cap of $25.23 billion, a PE ratio of -7.65 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $7.66. The stock has a fifty day moving average price of $7.06 and a 200-day moving average price of $6.16.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly 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 analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. Equities research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and an average target price of $5.90.

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.