Y Intercept Hong Kong Ltd Invests $1.65 Million in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Y Intercept Hong Kong Ltd purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 217,072 shares of the communications equipment provider’s stock, valued at approximately $1,645,000.

A number of other large investors have also recently bought and sold shares of the company. BOKF NA acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 2,458 shares during the last quarter. Vest Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at $77,000. Finally, Choreo LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $78,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.6 %

Shares of ERIC stock opened at $8.32 on Wednesday. The company’s fifty day moving average price is $8.12 and its 200-day moving average price is $7.22. The company has a market capitalization of $27.73 billion, a price-to-earnings ratio of -277.33 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.62. 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 issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations 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%. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.